Prosus raises $14.7 billion from Tencent sale in world’s largest block trade: sources By Reuters –
SectorFinancial Markets
CountryMiddle east

2/2 © Reuters. FILE PHOTO: FILE PHOTO: A Tencent logo is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing 2/2 By Scott Murdoch and Toby Sterling HONG KONG (Reuters) - Dutch based technology investor Prosus (OTC:) NT has sold a 2% stake in Chinese tech giant Tencent at HK$595 per share to raise $14.7 billion in the world's largest blocktrade, according to two sources with direct knowledge of the matter. The sources could not be named as the information had not yet been made public. Prosus and Tencent did not immediately respond to a request for comment.

Prosus, majority controlled by Naspers Ltd sold 191.8 million shares in Tencent to take its stake from 30.9% to 28.9%, according to a statement from Prosus. The stock sale had been flagged at HK$575 to $HK595 per share and the initial guidance to investors was set at HK$585 before it was raised to the top of the range, according to one source. At $HK595 per share, the price was a 5.5% discount to Tencent's closing price in Hong Kong trading Wednesday of $HK629.50. Tencent's shares are trading 10% higher so far in 2021. "The proceeds of more...