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South Africa’s Naspers Ltd Sells $1 bn Worth of Shares in Prosus

Last year, Naspers spun off Prosus along with its most valuable asset – a 30% stake in Chinese internet giant Tencent. The e-commerce group sold about 22 million Prosus shares, priced at 67.5 euros per share, on Tuesday via an accelerated bookbuild to institutional investors. This increased Prosus’ free float to 27.5% from 26.2%, and reduced Naspers’ holding to 72.5%. All proceeds will go to Naspers, which will use the funds to buy back shares over time, the company said.Source: REUTERS AFRICA