Media and internet group Naspers said it will be selling up to 190 million shares in Tencent, reducing its stake in the company to 31.2 percent from 33.2 percent. The number makes up 2 percent of Tencent’s total issued share capital. Naspers will use the money raised to strengthen its balance sheet and to grow its classifieds, online food delivery and fintech businesses globally, as well as to pursue other growth opportunities.
Tencent recently reported a strong set of fourth quarter results, with revenues rising over 50 percent and profit jumping almost 100 percent.
