March 22, 2018 / 9:07 AM / 5 months ago

BRIEF-Naspers Says ‍To Sell Up To 190 Million Tencent Shares

March 22 (Reuters) - Naspers Ltd:

* TO SELL UP TO 190 MILLION TENCENT SHARES, EQUAL TO 2% OF TENCENT’S TOTAL ISSUED SHARE CAPITAL, REDUCING STAKE IN TENCENT FROM 33,2% TO 31,2%​

* ‍TENCENT SALE SHARES WILL BE OFFERED TO INSTITUTIONAL INVESTORS GLOBALLY​

* ‍BANK OF AMERICA MERRILL LYNCH, CITIGROUP AND MORGAN STANLEY APPOINTED JOINT GLOBAL-COORDINATORS AND JOINT BOOK-RUNNERS TO MANAGE TRANSACTION​

* ‍BOOKS ARE OPEN NOW AND ARE EXPECTED TO CLOSE PRIOR TO HONG KONG MARKET OPENING​

* ‍FUNDS FROM OFFERING WILL BE INVESTED OVER TIME TO ACCELERATE GROWTH OF CLASSIFIEDS, ONLINE FOOD DELIVERY AND FINTECH BUSINESSES​ Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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