Rare jumbo Tencent block leaves investors wanting more

Tencent_Adobe_28May_575
By Jonathan Breen
08 Apr 2021

Investors put in a staggering $60bn of orders for an accelerated offering of Tencent Holdings’ stock on Wednesday, a deal that saw Dutch internet company Prosus taking home HK$114.17bn ($14.67bn) from a record-breaking overnight share sale. Jonathan Breen reports.

Three years after South African consumer internet group Naspers offloaded a $9.8bn block in Hong Kong-listed technology giant Tencent, its subsidiary returned this week with an opportunistic trade. Prosus, spun off on to Amsterdam’s bourse in September 2019, holds Naspers’ stake in Tencent.

The vendor came looking ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial