Yesterday, prosus, Tencent's largest shareholder, will sell 192 million shares of Tencent's holding stock, reducing its shareholding ratio from 30.9% to 28.9%.
Subsequently, media reports said that two people directly familiar with the matter disclosed that prosus, Tencent's largest shareholder, would sell 2% of Tencent's shares at HK $595 per share, raising US $14.7 billion in the world's largest block deal.
The share price of HK $595 per share is 5.5% higher than Tencent's closing price of HK $629.5 in Hong Kong on Wednesday. In addition, Tencent's share price has risen 10% so far in 2021.
For such a reduction, some financial experts said frankly that this is the most successful investment at present. Analysts said they don't expect the deal to narrow the gap between prosus's own market value (160 billion euros, about 189.92 billion dollars) and its Tencent stake in the short term. Prosus's stake in Tencent was worth 200 billion euros as of Wednesday.
Citigroup, Goldman Sachs and Morgan Stanley are the joint global coordinators for the sale.
According to refinitiv, the biggest block deal in history was in 2018 when naspers sold its 2% stake in Tencent for $9.8 billion.
Tencent holdings announced on the Hong Kong Stock Exchange today that: the company has been informed by prosus that its wholly-owned subsidiary MIH TC has entered into a placement agreement with the placement agent on April 8, 2021, concerning the sale of 191.89 million shares, accounting for about 2% of the total issued shares, at a total consideration of HK $114.175 billion.
The announcement also showed that after the sale, naspers, prosus and MIH TC will no longer be the controlling shareholders of the company.