Naspers Makes Another Move to Narrow Its Massive Valuation Gap to Tencent [The Motley Fool]
NASPERS LTD S/ADR (NPSNY)
NASDAQ:AMEX Investor Relations:
naspers.com/news/publication-of-prospectus-and-expected-admission-o
Company Research
Source: The Motley Fool
Naspers ( OTC:NPSNY Tencent OTC:TCEHY However, that blessing became a curse when Tencent's skyrocketing size soon made Naspers too large a company for the relatively small Johannesburg Stock Exchange, making up around % of the entire market as of early 09. Since many asset managers and indexes couldn't allocate full positions to Naspers because of its size, its share price has been "trapped" at a discount to its Tencent stake for some time. Naspers took a big first step last year when it spun off its non-South African technology assets into a separate company called Prosus OTC:PROSY left much to be desired Fortunately, this move does not appear to be a "one and done," as Naspers just recently took another small, yet meaningful action toward closing that wide valuation gap. Image source: Getty Images. Selling Prosus to buy Naspers On Jan. , Naspers proposed selling more Prosus shares to institutional investors in Europe, and closed the sale the very next day. Naspers wound up selling
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