Today, Naspers listed its international internet assets through Prosus. A few hours after its listing, Prosus’s value rose to $105 billion, making it the largest European Consumer Tech Stock. It is currently the third most valuable company listed on Euronext, Amsterdam’s stock exchange.
According to Prosus and Naspers Group CEO Bob Van Dijk, the listing of Prosus will give investors a chance to invest in Naspers’ unique portfolio. “The listing of Prosus is an exciting step forwards for the group, giving global technology investors direct access to our unique and attractive portfolio of international consumer internet businesses.”
Related Article: Naspers gets investors approval to sell its stake in Tencent.
On the first day of trading, the company’s shares rose by 29%. The listing will serve Naspers’ strategy to transform the newspaper publisher to a global consumer internet company. At the same time, the spin-off will relieve JSE of Naspers overbearing stocks in the exchange, cutting as much as 10% its previous 25% market capitalization on JSE.
Unlike Facebook or Alibaba, Prosus is not a consumer internet business. Instead, the company invests in a portfolio of internet firms all over the world ranging from FinTechs to food delivery.
Currently, Prosus holds Assets in Tencent as well as in global firms such as India’s Swaggy and Russia’s Mail.Ru.