Naspers creams R24bn off Prosus for SA shareholders – The Wall Street Journal

South Africa-based internet group Naspers said that it has sold 22 million ordinary shares in Prosus NV at 67.50 euros ($74.90) a share.

Published on:

23 Jan 2020, 6:27 pm

Naspers listed its international internet businesses through Prosus, on the Amsterdam stock exchange, in September. Last week Prosus lost a bid to take over JustEat, a blow to its intent to build its food delivery take-away business empire. This week, Naspers announced on the Stock Exchange News Service that it was selling a hefty chunk of shares in Prosus, with the proceeds repatriated in terms of SA Reserve Bank rules. The Naspers share price was down by just over 2% by the end of trading late on Thursday, but it is up by about 20% from from a one-year low. The company is still rated as a buy, according to analysis covered by Sharenet. The Prosus share price also declined by a similar figure on Thursday. – Jackie Cameron