Fast Technology July 17 news,Prosus, the largest shareholder of Tencent Holdings, said it will continue to hold its stake in Tencent for the long term, remaining confident in Tencent's business and the prospects of China's Internet industry.
It is understood that Prosus currently holds about 26% of Tencent's shares, worth about $112 billion.
In 2021, when Tencent's stock reached a historical high, Prosus sold Tencent shares to cash in hundreds of billions of Hong Kong dollars.
It is understood that 20 years ago, MIH TC Holdings Limited, a subsidiary of Prosus, bought 45.5% of Tencent's equity from major investors such as PCCW, IDG and Tencent, which is the largest single shareholder of Tencent, and the amount spent that year was 32 million US dollars, according to Tencent's current market value estimate. The return on investment is more than 7,000 times.
At present, Tencent's market value is about 3.38 trillion Hong Kong dollars (about 3.07 trillion yuan). Prosus's stake in Tencent is worth more than its own market capitalisation ($95bn).