Prosus to buy shares in parent Naspers as valuations lag Tencent stake

PUBLISHED: Wed, 12 May 2021 06:17:23 GMT
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AMSTERDAM, May 12 (Reuters) – Amsterdam-based technology investor Prosus NV on Wednesday announced plans to acquire up to 45.4% of its parent Naspers of South Africa by issuing new shares.

Naspers, which has a controlling stake in Prosus and would remain majority owner, hopes the deal will improve valuation for both companies.

Both trade at a discount to the value of the massive 28.9% stake Prosus holds in Chinese software and gaming giant Tencent Holdings.

Prosus shareholders would benefit, CEO Bob van Dijk said in a statement, as Naspers shares trade at a deeper discount to the value of the Tencent stake than Prosus shares do. (Reporting by Toby Sterling; editing by Jason Neely)

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