Dutch investor and Tencent shareholder, Prosus NV is planning to sell even more of its $134 billion in the entertainment conglomerate's stock, causing shares of Riot Games’ owner to drop 2.5% on Tuesday afternoon.

Prosus NV became an early investor in Tencent more than two decades ago and has since seen a multi-billion dollar return in the Chinese multimedia company. Now, Prosus NV plans to sell more of its stock in the company in order to buy back its own shares.

"We will keep selling Tencent shares to buy back our own shares, it’s open-ended and an unlimited program," Prosus chief executive officer Bob Van Dijk said in an interview. "It’s actually a small part of Tencent daily traded volumes - it should be maximum between 3 to 5%."

That percentage represents a sale of between four to seven billion dollars worth of stake in Tencent, according to those figures. Furthermore, Prosus NV’s sale of more Tencent stock represents a change of heart from the Dutch company. Following their last sale of $15 billion worth of Tencent in April 2021, the Dutch company stated that it would not sell any more shares for another three years.

Prosus NV is currently Tencent’s largest shareholder, owning a 28.8% stake, which is currently valued at an estimated $123 billion dollars.

Tencent’s influence and control in esports are unrivaled as the Chinese tech company is the outright owners of Riot Games, publishers of popular esports titles such as League of Legends and VALORANT. Furthermore, they also own a 40% stake in Epic Games, publishers of popular gaming titles like Fortnite and Rocket League.