Naspers, which has a primary listing on the Johannesburg Stock Exchange, plans to list the internet businesses that aren’t based in South Africa - making up the bulk of the company - on the Euronext Amsterdam. The Amsterdam listing is the next step of Naspers Chief Executive Officer Bob Van Dijk’s plan to try to reduce the gap between the company’s market value of about R1.41 trillion rand and its holding in Chinese tech giant Tencent.
The businesses include its stake in Tencent, as well as holdings in Russian internet platform Mail.Ru, German food delivery business Delivery Hero and Indian e-commerce startup Swiggy. The spinoff, to initially be called NewCo, is expected to be 75% owned by Naspers, with the rest a free float.Read more about:
Fin24 I see this as the first move to disinvest in South Africa by Naspers. Capital outflows like this will drive this economy into the ground. What do you think about it tito_mboweni ?
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