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Prosus to Further Slash Stake in MEITUAN-W: Wire
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Prosus, a subsidiary of TENCENT (00700.HK)'s major South African shareholder Naspers, has recently begun reducing its stake in MEITUAN-W (03690.HK), Bloomberg News reported, citing sources. Over the past two weeks, Prosus has sold around USD250 million worth of MEITUAN-W shares, and it is possible that it will offload more shares down the road. The proceeds from the sale are expected to be used by the company to develop other e-commerce brands. According to disclosures on the Prosus website, the company currently holds 257.5 million MEITUAN-W shares, with a market value of around HKD32.8 billion (about USD4.2 billion) based on yesterday's (30th) closing price. AAStocks Financial News |
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