Prosus’s Stake in Tencent Falls Below 26% as Selloff Continues

Prosus NV continued its selloff of Tencent Holdings Ltd., bringing its stake in the Chinese internet giant to under 26%.

The Amsterdam-listed tech investor sold 789,600 ordinary shares of Tencent on Tuesday, lowering its holding to 25.99%, it said in a regulatory filing. Prosus bought its own shares worth €185 million ($203 million) between April 17 and April 21 as part of a repurchase program, according to the statement.

Prosus, an early investor in Tencent through its Cape Town-based parent Naspers Ltd., first started its campaign to reduce its holdings in mid-2022 as a way to fund the ...