On June 24, 2022, Tencent Holdings closed at HK$364 per share, up 2.45%. The stock price trend looked good at the time. However, on June 27, things changed abruptly. Prosus, a subsidiary of South Africa Press (MIH), the majority shareholder, issued an announcement stating that it would soon start an open stock repurchase plan. In addition to repurchasing shares, the sale of Tencent was also revealed as part of the plan. On the same day, Tencent closed at HK$359 per share, a decrease of 1.56%. The day after the news came to an end, the decline in Tencent Holdings' stock price widened to 3.28%, closing at 347.4 yuan/share.
Since then, Tencent's stock price has begun a long downward path, reaching a low of HK$188.6 per share on October 25, 2022. Exactly 10 months after the repurchase plan began, on March 31, Tencent's stock price closed at HK$385.8 per share. The haze of majority shareholders' holdings reduction seemed to have dissipated, and the pressure brought about by the sell-off was gradually forgotten by the market.
Prosus initiated an open stock repurchase in June 2022. Up to now, 109,595,021 Prosus N shares have been repurchased, and 4,152,285 Naspers N shares have been purchased. Naspers has also launched a buyback program funded by regular sales of Prosus N shares, through which Naspers has sold 25,161,201 shares of Prosus N shares. (The total share capital recently announced by Prosus is 1,29...