Tencent Stake Worth $7.6 Billion Appears in Hong Kong Clearing System

(Bloomberg) — Tencent Holdings Ltd. shares worth $7.6 billion appearing in Hong Kong’s clearing and settlement system has fueled speculation that a large stakeholder may be selling its holdings.

About 192 million shares, representing about 2% stake in the Chinese tech giant, were registered on the platform as of Wednesday, according to city’s exchange website. While there are several reasons for a stake to appear, such a move is typically seen as a precursor to selling and investors pointed to its most dominant backer Prosus NV as the likely culprit.