Naspers has finally given a name to its new global consumer Internet group, which it intends listing on Euronext Amsterdam in September, with an inward listing on the JSE.
Until now known by the generic “NewCo”, Naspers revealed in its annual results published on Friday that the business will be called Prosus.
Prosus is a Latin word, with various meanings. Its use in this case is inspired by the meaning “forwards”, Naspers said.
Prosus will consist of Naspers’s Internet assets outside of South Africa and includes investments in online classifieds, food delivery, payments and fintech, e-retail, travel, education, and social and Internet platforms. It will house the group’s 31.2% stake in Chinese Internet giant Tencent, which is by far its most valuable investment.
Prosus will have a secondary, inward listing on the JSE and is expected to be about 75% owned by Naspers with a free float of about 25%, Naspers said.
“As Europe’s largest listed consumer Internet company by asset value, Prosus will give global Internet investors direct access to our unique and attractive portfolio of international internet assets,” Naspers said.