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Prosus exits Trip.com with $1.6B stock sale

Dutch internet investment firm Prosus has sold its entire stake in Trip.com Group, cashing out approximately $1.6 billion as the Chinese online travel company’s stock reached a record high. Prosus, which previously acquired a 5.6% stake in Trip.com (formerly Ctrip) in 2019 through an exchange with MakeMyTrip, divested 30 million shares amid a broader trend of international investors reducing their exposure to Chinese firms. This move coincides with Trip.com’s strong performance in the second quarter of this year. Prosus is controlled by South African multinational Naspers, known for its profitable investments, including a 46.5% stake in Tencent acquired in 2001.

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