Naspers Ltd.—a multinational internet and media company is set to list on Euronext N.V.– a European stock exchange based in Amsterdam, after securing its shareholder’s vote on the 23rd of August 2019.
The company will also be listing its $125 billion stake in Chinese investment company– Tencent Holding Ltd to scale its expansion bid and attract international investors to its internet assets.
Naspers will retain a majority stake of 73% in the new company- ProsusNV. They will also leverage the listing to reduce their dominance at the Johannesburg stock exchange market. Considering that Naspers make up about 25% of the JSE which outweighs the South African institutional investors’ single stock limits.
See also: Naspers Foundry Invests $2m in Online Cleaning Platform
The listing will also grant Naspers the opportunity to bridge the $98 billion valuation gap that is between them and Tencent. According to Naspers, they still have more work to do, considering that the listing won’t do everything.
Naspers is notable for investing in technology. As it aims to capture growth, transform itself from a print media, pay-TV and video entertainment company into one of the top 10 global consumer internet companies by market capitalization.
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