A European Tech Giant Is Born, Spun Off From a South African Firm [The New York Times]
NASPERS LTD S/ADR (NPSNY)
NASDAQ:AMEX Investor Relations:
naspers.com/news/publication-of-prospectus-and-expected-admission-o
Company Research
Source: The New York Times
DealBook Business and Policy LONDON — Europe’s modest ranks of huge public nology companies gained an unusual new entrant on Wednesday: a unit of the South African giant Naspers whose main asset is a major stake in Tencent, the Chinese e-commerce, social media and gaming behemoth. Shares in that unit, Prosus, made their debut on Wednesday on the Euronext exchange in Amsterdam, where they soared more than 25 percent. Prosus ended the session with a market value of around 120.5 billion pounds, or nearly $133 billion. That made Prosus, which earned $4.2 billion But the most valuable piece in Prosus’ portfolio is its 31 percent slice of Tencent. Naspers paid $32 million for a 46.5 percent stake in 2001, in the Chinese company’s early stages. On Wednesday, the Tencent stake, since diluted, was valued at around $131 billion. The question now is whether Naspers, through its new publicly traded vehicle, can follow that blockbuster bet with other investments that deliver smashing returns. In s
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