Tencent Top Holder Prosus to Sell Up to $14.6 Billion Stake
- E-commerce firm Prosus raising cash to fund growth ventures
- Disposal represents 2% stake in Chinese internet giant
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Prosus NV plans to raise as much as $14.6 billion from the sale of shares in Chinese internet giant Tencent Holdings Ltd., further growing its war chest for new e-commerce deals.
The Amsterdam-listed firm will sell a 2% stake in Tencent, reducing its holding to just under 29% while remaining the biggest shareholder, according to a statement on Wednesday. The price range was set at HK$575.00 to HK$595.00, a discount to the last trading price of HK$629.50.