Prosus Completes Full Exit from Trip.com with US$743 Million Trade Amid Shifting Investor Confidence in Chinese Market

Online investment firm Prosus has completely sold off its stake in Trip.com through a block trade worth US$743 million. This transaction occurred just a month following Walmart's divestment of its US$3.6 billion share in Chinese online retail giant JD.com, a collaboration that lasted for eight years.

Prosus offloaded 14.5 million Trip.com stocks at $51.40 per share in a block trade initiated on Tuesday evening in the US, according to the agreement details. This transaction signifies the complete withdrawal of Prosus from the company, having slowly liquidated its shares throughout the summer, said sources who requested anonymity as the information is not publicly available.

A spokesperson for Prosus refused to make a statement, and Trip.com did not promptly reply to a request for comment.

Shares in China and Hong Kong surged on Tuesday following the announcement of a comprehensive stimulus plan from China aimed at boosting growth in the globe's second-biggest economy. The nation's share market has been struggling under the weight of deflation, a deep-seated property market crisis, and diminishing trust from international investors towards Beijing.