Cash out nearly 7.3 billion Hong Kong dollars! Major shareholder Prosus reduced its holdings of Tencent (00700) by approximately 13 million shares in the first quarter.

South African multinational media group Naspers' internet investment giant Prosus sold about 13 million shares of Tencent (00700) in the first quarter of this year. Based on the average closing price of Tencent in the first quarter of this year of 560.16 Hong Kong dollars, the amount raised this time is approximately 7.28 billion Hong Kong dollars; estimated at the closing price of 484 Hong Kong dollars at the end of March, the amount involved is about 6.29 billion Hong Kong dollars. According to official data, as of April 8, Prosus still holds approximately 20.67 billion shares of Tencent. It is understood that Prosus started unlimited divestment of Tencent as early as 2022, aiming to raise funds to repurchase its own shares and narrow the discount of the stock price to net asset value per share. However, there are reports that Prosus will start to change its stance on Tencent starting in the second half of 2025. Prosus CEO Fabricio Bloisi stated to investors at the end of November last year that the source of funds for the unlimited buyback plan is not only from divesting Tencent, but also from selling investments with less potential. It is worth noting that Tencent has recently increased its buyback efforts. The company announced on April 8 that it spent approximately 1 billion Hong Kong dollars to repurchase 1.979 million shares on April 8, 2026. Since March 26, Tencent has conducted buybacks for seven consecutive days, repurchasing a total of 5.642 million shares, with a total buyback amount of 2.799 billion Hong Kong dollars.