Naspers has raised $9,8-billion through the sales of 189 978 300 Tencent shares, equating to about 2% of the company’s shareholding.
The shares were sold by way of an accelerated offering by private placement on the Hong Kong Stock Exchange.
Naspers has stated that it won’t dispose of any additional Tencent shares for at least three years.
The funds raised by the sale will be used to reinforce and increase financial flexibility on Naspers’ balance sheet.
In addition, they will be invested over time to accelerate the growth of Naspers’ classifieds, online food delivery and fintech businesses, and to pursue new growth opportunities.
Tencent is an investment holding company involved in the provision of internet value added services and online advertising in China, and listed on the main board of the Hong Kong Stock Exchange during June 2004.
Naspers has been invested in the company since 2001.