Tencent said that Naspers will sell its shares in the company in an orderly manner to raise funds for its buyback program, realizing total proceeds of approximately $3.67 billion. The sale is not subject to any conditions prior to.

Naspers Group, Tencent's main shareholder, will sell shares in the company, and Naspers expects the number of shares sold each day to be a small proportion of the company's average daily trading volume, the company said.