Nasper’s stake in Tencent ballooned 5,600 times in 17 years. Now it’s time to take a little profit

Naspers, the biggest shareholder of China’s largest social network operator, said it’s selling shares in Tencent Holdings for the first time in 17 years to raise capital to reinforce its balance sheet and for investments into new businesses.
The Cape Town-based publisher sold 190 million Tencent shares at HK$405 each , raising HK$76.95 billion (US$9.8 billion) and trimming its holdings to 31 per cent, from 33 per cent, according to filings to the Hong Kong stock exchange.
The sale…

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