|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||93.80 - 95.47|
|52 Week Range||61.84 - 110.00|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||43.10|
|Earnings Date||Nov 23, 2020|
|Forward Dividend & Yield||0.11 (0.12%)|
|Ex-Dividend Date||Oct 22, 2020|
|1y Target Est||N/A|
In the second-largest block trade ever, Prosus sells almost $15 billion of its massive Tencent stake. What will it do with the cash?
Investors in Naspers Ltd - Africa's biggest company - said on Thursday they want proceeds from a $14.7 billion stake sale in its Tencent Holdings investment to go towards blockbuster acquisitions or a share buyback. Naspers' Dutch-listed subsidiary Prosus NV sold a 2% stake in the Chinese gaming and social media giant on Thursday in the world's largest-ever block trade, reducing its stake to 28.9%. Prosus' portfolio is dominated by Tencent, which owns China's biggest messaging app, WeChat.
AMSTERDAM (Reuters) -Amsterdam-based technology investor Prosus NV on Thursday said it netted $14.6 billion from its overnight sale of a 2% stake in Chinese gaming and social media giant Tencent in one of the world's largest ever block trades. "Our belief in Tencent and its management team is steadfast, but we also need to fund continued growth in our core business lines and emerging sectors," Prosus Chairman Koos Bekker said in a statement after the completion of the deal on Thursday. In a Hong Kong Stock Exchange filing, Tencent said Prosus sold 191.89 million shares for HK$595.00, reducing its stake to 28.9%.