Yesterday, the largest shareholder of Asia’s largest technology company Tencent was looking to sell 2% of the company reducing it’s stake from 30.9% down to 28.9% raising around US$14 billion in the process. While this is a short term negative for the share price, the seller Prosus has committed not to sell any further shares for at least 3 years. This is actually a remarkable story given Prosus, which invests in internet based technology companies, invested just $US32m in Tencent back in 2001 and the shares today are worth a staggering US$239 billion.
scroll
Question asked
Question asked
Question asked
Performance update for March, stocks that drove returns & our current positioning
Close
Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
Close
Market Matters Research Lead Shawn Hickman with David Koch
Close
MM remains bullish Tencent
Add To Hit List
Related Q&A
Investing in video gaming
Updated thoughts on Alibaba (BABA US)
China Tech – do we intend to cut & run?
Relevant suggested news and content from the site
Video
WATCH
Performance update for March, stocks that drove returns & our current positioning
Recorded Tuesday 9th April
Podcast
LISTEN
Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
Daily Podcast Direct from the Desk
Video
WATCH
Market Matters Research Lead Shawn Hickman with David Koch
Recorded Monday 25th March
Members only
UNLOCK MARKET MATTERS NOW
Take a free trial.
No payment details required.