Netherlands-based marketplace operator Prosus has netted approximately $34 million U.S. through selling ordinary shares in Tencent, further reducing its stake in the China-based company.

In a regulatory filing with the Stock Exchange of Hong Kong, Prosus said it had sold 789,600 ordinary shares in the internet company, “bringing its total ownership in Tencent to 25.99%.”

On Tuesday, Tencent closed at HKD339 ($43.2 U.S.) / share. The funds will be used to finance Prosus’s share repurchase program, active since June 2022, to reduce the discount at which its shares have been trading vis-à-vis the value of its underlying assets.

Majority owned by South Africa-based Naspers, the marketplace specialist has reduced its ownership of the China-based asset from 29% in June 2022. Between Apr. 17 and 21, the company repurchased 2.65 million of its own shares at an average price of just under €70 / share for total consideration of €185 million ($203 million U.S.).

Prosus has a primary listing on EuroNext Amsterdam and secondary listings on the Johannesburg Stock Exchange and A2X Markets. Its classifieds and marketplaces include OLX Autos,, ImoVirtual,,,,,,, and

Related Articles