Internet company Prosus listed on Amsterdam exchange
The South African media and technology company Naspers is splitting off its international online activities and listing them on the Amsterdam stock exchange under the name Prosus. No new shares will be issued. With this IPO, part of all Naspers shares, listed in Johannesburg, will be renamed and transferred to the Amsterdam exchange.
In addition to operating its own internet companies, Prosus also invests in internet companies around the world, focusing mainly on emerging countries such as India and China. Prosus’s most valuable asset is a stake in Tencent, one of China’s largest internet companies.
The demerger and separate IPO of Prosus in Amsterdam is an attempt to boost the valuation of its internet activities. And it worked: the first-day valuation increase – compared to Johannesburg – was enormous, making Prosus one of the largest listed companies on the Amsterdam exchange.