Tencent's major shareholder Prosus has reduced its holdings of more than 1% of Tencent shares since April this year, cashing out US$5 billion.

Prosus, the Dutch subsidiary of South Africa’s Naspers Group, Tencent’s major shareholder, announced their performance report for the first half of the fiscal year ending at the end of September. According to the report, their consolidated revenue increased by 13% year-on-year to US$2.56 billion, while core income increased by 118% year-on-year to US$2 billion. Prosus expects core overall earnings per share to fall 21% to 28% in fiscal 2024

In addition, Prosus disclosed that in the first half of the fiscal year ( From April to September this year), it sold about 1% of Tencent shares, reducing its shareholding from 26.2% to about 25%, earning US$4 billion in proceeds. Prosus said the cash withdrawal amount was used to repurchase its own shares. Subsequently, between October and November 24, Prosus further sold approximately 26.22 million Tencent shares, generating US$1 billion in proceeds.

According to a Wall Street Journal report in July this year, Prosus expects its shareholding in Tencent to decrease by 2 to 3 percentage points each year, to about 24%-25% by the end of the year. Information shows that in June 2022, when Prosus announced the sale of Tencent shares to fund the repurchase, it still held approximately 29% of Tencent’s shares. In 2001, Naspers paid US$33 million (notes on this site: Currently about 236 million yuan) acquired 46.5% of Tencent's shares. Since then, due to factors such as additional equity issuance, the proportion has declined, but it is still Tencent's largest shareholder. On June 16, 2004, Tencent was officially listed and opened at HK$4.375 that day, 18.24% higher than the issue price.

Advertising statement: The external jump links (including but not limited to hyperlinks, QR codes, passwords, etc.) contained in the article are used to convey more information and save selection time. The results are for reference only. All articles on the site contain this statement.

The above is the detailed content of Tencent's major shareholder Prosus has reduced its holdings of more than 1% of Tencent shares since April this year, cashing out US$5 billion.. For more information, please follow other related articles on the PHP Chinese website!