Tencent falls 2.5% as Prosus, Napsers say to gradually sell shares

FILE PHOTO: A logo of Tencent is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/File Photo

(Reuters) - Shares of Tencent Holdings Ltd gave up morning gains to fall as much as 2.5% to HK$374.60 in the early afternoon, after Prosus and Napsers said they would gradually sell shares.

Dutch technology investment company Prosus and its controlling shareholder Naspers of South Africa said on Monday they intend to sell down their enormous stake in Chinese software giant Tencent to fund a share purchase programme.

(Reporting by Donny Kwok; Editing by Jacqueline Wong)