Tencent (700) major shareholder Naspers' internet flagship Prosus sold approximately 13 million shares of Tencent in the first quarter of this year. Based on an average closing price of HKD 560.16, the value is about HKD 7.28 billion. On the other hand, Prosus did not reduce its holdings in Meituan (3690) in the first quarter of this year, and its shareholding remained unchanged. In terms of stock prices, Tencent and Meituan are currently reported at HKD 511 and HKD 88.8, respectively, with year-to-date declines of 14.7% and 14%.
In fact, Prosus initiated an unlimited reduction of its holdings in Tencent as early as 2022, aiming to raise funds to repurchase its own shares. Group CEO Fabricio Bloisi even told investors at the end of November last year that the funding for the unlimited repurchase plan comes not only from reducing its holdings in Tencent but also from selling underperforming investments

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Prosus, a subsidiary of Naspers, reduced its holdings in Tencent by approximately 13 million shares in the first quarter of 2023, valued at about 7.28 billion yuan, without reducing its stake in Meituan. The stock prices of Tencent and Meituan are 511 yuan and 88.8 yuan, respectively, having fallen by 14.7% and 14% this year. Since 2022, Prosus has initiated an unlimited reduction plan for Tencent, aimed at repurchasing its own shares, with funding sources including the reduction of Tencent and the sale of other investments

- Prosus, a flagship internet arm of Naspers, sold approximately 13 million shares of Tencent in Q1 of this year, valued at about 7.28 billion HKD based on an average closing price of 560.16 HKD.  
- In contrast, Prosus did not reduce its stake in Meituan during the same period.  
- Tencent and Meituan's stock prices have declined by 14.7% and 14% respectively this year, while Prosus has aimed to generate funds for share buybacks through the sale of Tencent shares and less promising investments.

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Prosus, a subsidiary of Naspers, reduced its holdings by 13 million shares of Tencent in the first quarter, without selling any shares of Meituan