News, Culture & Society

Tencent shares set to open down 7.8 pct after Naspers’…

HONG KONG, March 23 (Reuters) – Shares of Tencent Holdings Ltd were set to open down 7.83 percent on Friday after Naspers Ltd’s plan to cut its stake in the Chinese internet giant in a deal that could net the South African media and e-commerce group up to $11 billion.

The stocks were set to open at HK$405, the lowest opening price since Feb. 9. That compared with a 3.67 percent fall in the benchmark index.

Naspers plans to sell up to 190 million shares, or 2 percent, in Tencent and said it has no plans to reduce its holding further for the next three years. (Reporting by Donny Kwok Editing by Paul Tait)


Sorry we are not currently accepting comments on this article.