Major Tencent Shareholder to Reduce Stakes For Buyback Plan

(Source: Freepik)

Tencent released an announcement on Monday at the Hong Kong Stock Exchange, stating that the company’s major shareholder, Prosus, which is mostly owned by Naspers, would sell its shares, and that Naspers expects the number of shares sold each day to be a fraction of the average daily turnover of Tencent‘s shares. After the announcement,…