Naspers: Listing of Prosus N Ordinary Shares on Euronext Amsterdam and the JSE Not for Release, Publication or Distribution, in Whole or in Part, in or … SENS: Update on Prosus share repurchase and Naspers share purchase. The listing by South African media conglomerate Naspers of assets including part of its Tencent stake via the new Prosus vehicle in Amsterdam in September was heralded as a way to reduce the deep discount to net asset value (NAV) at which Naspers shares trade.. Technology investor Naspers expects to report a drop in earnings due to the listing of subsidiary Prosus in Amsterdam in 2019, which has decreased the amounts it … Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. (Updates with company comment in third, CFO starting in sixth paragraph. Naspers owns 72.66% of Prosus, which trades in Amsterdam. 8 December 2020 More news. Investment from actively managed European, growth and technology funds is expected to top that, Naspers CEO Bob van Dijk said in a. In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies in the country. BL PREMIUM . Tencent, which owns the WeChat messaging platform and a host of payment apps and mobile games, is one of China's largest technology groups. It should become clearer to investors how its other bets are performing, which could determine whether the discount on the stock narrows further. Prosus has a listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus. Even when Tencent is excluded, Naspers has delivered returns of more than 20% a year, considerably outperforming most equity markets, said Ruan Stander, a portfolio manager at Cape Town-based asset manager, Allan Gray. The deal also carries some risk for Naspers. Called Prosus, the company was worth €95 billion ($105 billion) at listing, making it the biggest consumer tech stock in Europe and the second biggest tech company in the region behind German software group. Figure 2: Naspers’ historic discount to NAV since Prosus listing announcement: Source: Bloomberg, Anchor. On 25 March 2019, Naspers announced its intention to list its international internet assets on Euronext Amsterdam with a secondary, inward listing on the Johannesburg Stock Exchange in South Africa. More info, A Euronext Amsterdam listing is expected to attract incremental tech investor capital which is well-aligned to our growth ambitions, Taking actions to address market dynamics. It's now going to focus on growing global businesses in online classifieds, food delivery, and payments and fintech, van Dijk said. The transaction is due to take place on 11 September 2019. Naspers sought the listing in part to open up its companies to a wider range of investors than those operating in South Africa's capital markets. Naspers On the day it listed on the Euronext exchange in Amsterdam, Prosus – the international listing of South Africa's Naspers – became the largest consumer internet company in … Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. The listing of Prosus is a significant event for the JSE and Naspers, as it will see the unbundling of the group’s international internet businesses, including its 31% stake in Tencent. There should be a discount to listed net asset value (NAV) of about 25% for Prosus and about a further 20% for Naspers, says Malan. Prosus has its primary listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus. Naspers will continue to own at least 73% of Prosus, which also holds other technology assets, Naspers estimates that demand from passive investors for shares in Prosus could total as much as $3 billion, following the stock's inclusion in a number of large global indexes. That's where the move to Amsterdam should help. Naspers Ltd. received enough votes from shareholders to proceed with an Amsterdam listing of assets including a $125 billion stake in Chinese internet giant Tencent Holdings Ltd. Prosus shares soared 26% by the close, boosting its market value to €120 billion ($132 billion). Prosus Euronext listing On 25 March 2019, Naspers announced its intention to list its international internet assets on Euronext Amsterdam with a secondary, inward listing on the Johannesburg Stock Exchange in South Africa. Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and a secondary listing on the Johannesburg Stock Exchange (XJSE:PRX), and is majority owned by Naspers. That forced investors to sell Naspers' shares so they weren't overly exposed to a single stock. Prosus shares have slumped 16% since their September listing, valuing the Naspers unit at about $112.6 billion. View all details relating to the listing of Prosus on the Euronext Amsterdam here. In research on Smart Karma on January 22, Artherton points out that direct investment in Tencent since the Prosus listing would have outperformed buying either Naspers or Prosus. All rights reserved. Prosus Euronext listing On 25 March 2019, Naspers announced its intention to list its international internet assets on Euronext Amsterdam with a secondary, inward listing on the Johannesburg Stock Exchange in South Africa. A listing on Euronext Amsterdam will be called Prosus, which could whether! Overall market lower of discount is the main reason behind its creation create it in... 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