March 23, 2018 / 1:32 AM / 4 months ago

Tencent shares set to open down 7.8 pct after Naspers' selldown

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below