Tencent’s biggest shareholder is planning to dump more stock
Prosus said Monday that it would use the proceeds from the open-ended stock sale to buy back its own shares and those of Naspers. “It will also rebalance our asset base towards our fast growing non-Tencent assets,” Bob van Dijk, CEO of Prosus and Naspers, said in the statement.The company said that it would begin selling small numbers of Tencent shares “regularly and in an orderly manner,” but didn’t elaborate on how many. Tencent said on Monday the Prosus sale will only represent a small percentage of average daily trading volume in its stock, according to an exchange filing.