Business News 22.3.2018 12:10 pm

Naspers says intends to sell up to 190 million Tencent shares

Naspers says intends to sell up to 190 million Tencent shares

According to Naspers, the funds will be used to reinforce Naspers’ balance sheet.

Media company Naspers said on Thursday it intends to sell up to 190 million Tencent Holdings shares, equal to two percent of Tencent’s total issued share capital and reducing its stake from 33.2 percent to 31.2 percent.

“The funds will be used to reinforce Naspers’ balance sheet, and will be invested over time to accelerate the growth of our classifieds, online food delivery and fintech businesses globally and to pursue other exciting growth opportunities when they arise,” it said.

– African News Agency (ANA)

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