Technology investment company Prosus announced its intention to sell 2% of its stake in Chinese software giant Tencent, a move that will see the company’s share be decreased from 30.9% to 28.9%. The value of the stocks that Prosus intends to let go of amasses to approximately $15 billion.
Prosus, a Dutch-based company that acts as the assets division of South African consumer Internet company Naspers, has confirmed that following this decrease in its stake, the company intends to ensure that no further stake reductions in Tencent will occur within the next three years.
According to Prosus CEO Bob van Dijk, the company’s decision to reduce its share in Tencent is a move directed at expanding the company’s potential for growth: “The proceeds of the sale will increase our financial flexibility, enabling us to invest in the significant growth potential we see across the group, as well as in our own stock,” van Dijk revealed.
Following the announcement of Tencent’s share sale, Prosus shares dropped by 4% to 94.52 euros. Prosus also confirmed that it had informed Tencent of its intention to sell its shares before going public with the announcement.
In addition to its Tencent shares, Prosus also invests in digital payment businesses, classified marketplaces, and online food delivery services.
