Naspers Deposits 96M TENCENT Shrs into CCASS, Likely Planning for Reduction

South Africa's $NASPERS LTD ADR (NPSNY.US)$ and its subsidiary $Prosus N.V. Sponsored ADR (PROSY.US)$, major shareholders of $TENCENT (00700.HK)$ , are planning another round of stake reduction.

Prosus recently deposited HK$29 billion worth of TENCENT shares into the Central Clearing and Settlement System (CCASS) and logged the position under $Goldman Sachs (GS.US)$ , signalling that Naspers may be embarking on another round of stake reduction.

According to data from $HKEX (00388.HK)$ , about 96 million TENCENT shares were deposited into CCASS on 17 October. Based on the closing price of HK$302.2 on that day, the value of the shares was HK$29 billion.