Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      The real cost of a cashless economy

      16 July 2025

      Larry Ellison, 80, is now world’s second richest person

      16 July 2025

      Solly Malatsi seeks out-of-court deal in TV migration fight

      15 July 2025

      South Africa’s telcos battle to monetise 5G as 4G suffices for most

      15 July 2025

      Major new electric car brand launching in South Africa

      15 July 2025
    • World

      Grok 4 arrives with bold claims and fresh controversy

      10 July 2025

      Samsung’s bet on folding phones faces major test

      10 July 2025

      Bitcoin pushes higher into record territory

      10 July 2025

      OpenAI to launch web browser in direct challenge to Google Chrome

      10 July 2025

      Cupertino vs Brussels: Apple challenges Big Tech crackdown

      7 July 2025
    • In-depth

      The 1940s visionary who imagined the Information Age

      14 July 2025

      MultiChoice is working on a wholesale overhaul of DStv

      10 July 2025

      Siemens is battling Big Tech for AI supremacy in factories

      24 June 2025

      The algorithm will sing now: why musicians should be worried about AI

      20 June 2025

      Meta bets $72-billion on AI – and investors love it

      17 June 2025
    • TCS

      TCS+ | MVNX on the opportunities in South Africa’s booming MVNO market

      11 July 2025

      TCS | Connecting Saffas – Renier Lombard on The Lekker Network

      7 July 2025

      TechCentral Nexus S0E4: Takealot’s big Post Office jobs plan

      4 July 2025

      TCS | Tech, townships and tenacity: Spar’s plan to win with Spar2U

      3 July 2025

      TCS+ | First Distribution on the latest and greatest cloud technologies

      27 June 2025
    • Opinion

      A smarter approach to digital transformation in ICT distribution

      15 July 2025

      In defence of equity alternatives for BEE

      30 June 2025

      E-commerce in ICT distribution: enabler or disruptor?

      30 June 2025

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CambriLearn
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » Investment » Naspers unlocks R150-billion of value with Prosus listing

    Naspers unlocks R150-billion of value with Prosus listing

    By Loni Prinsloo24 November 2019
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp
    Naspers and Prosus CEO Bob van Dijk

    Naspers unlocked about R150-billion of value for shareholders through the separate listing of its Internet businesses, and with that done is now focusing on bulking up in online food deliveries.

    For years, Naspers has been trying to reduce a gap between its share price and the combined value of its assets. It split off these investments, including a 31% stake in Chinese technology giant Tencent, into a new unit called Prosus, which listed its stock in Amsterdam in September. The aim of the European listing was to attract foreign investors who cannot buy into emerging-market companies.

    Before the listing, Naspers’s Internet businesses were trading at a discount of about 44% to their net asset value, a gap which narrowed to about 37% as of Wednesday’s closing prices, the company said in an e-mail. That’s the equivalent to US$10-billion “of value unlock”.

    The plan is to get any meal to a customer within 30 minutes and at roughly the cost of preparing it at home

    Bob Van Dijk, CEO of both companies, is scouring the globe looking to replicate Naspers’s blockbuster investment in Tencent. Naspers put $34-million into the Chinese company in 2001. That investment is now worth about $126-billion. Naspers, based in Cape Town, owns about 74% of Prosus and operates newspaper businesses.

    As part of that effort, he’s making a major bet on online food delivery. Through Prosus, he’s vying with Takeaway.com to acquire UK online food-delivery company Just Eat. Prosus is also backing other players in the sector, such as India’s Swiggy and iFood.

    “We get to see what happens in the online food delivery business in more than 40 markets,” chief financial officer Basil Sgourdos said in an interview. The plan is to get any meal to a customer within 30 minutes and at roughly the cost of preparing it at home.

    Big appetite

    The firm has spent $2.5-billion in investments in the food industry, from which it is making an internal rate of return of 30%. “We want to change the way people eat every day; that requires investment in technology, logistics and food preparation from our side,” the CFO said.

    Naspers on Friday reported core headline earnings from continuing operations of $3.80/share in the six months to September, up from $3.53 a year earlier. Prosus, which provided results for the first time, generated $1.05/share using the same adjusted profit measure, up 6.1% from a year earlier.

    Naspers shares are up 17% year to date, giving the company a market capitalisation of about $67.9-billion. Prosus shares have slumped 16% since their September listing, valuing the Naspers unit at about $112.6-billion.  — (c) 2019 Bloomberg LP



    Basil Sgourdos Bob van Dijk Just Eat Naspers Prosus Tencent top
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleSacha Baron Cohen tells Facebook: ‘Your product is defective’
    Next Article Mobile won’t fix the digital divide

    Related Posts

    Prosus aiming to double revenue in three years

    25 June 2025

    Naspers shifts to an AI-first strategy – and it’s paying off

    23 June 2025

    TechCentral Nexus S0E3: Behind Takealot’s revenue surge

    23 June 2025
    Company News

    Mental wellness at scale: how Mac fuels October Health’s mission

    15 July 2025

    Banking on LEO: Q-KON transforms financial services connectivity

    14 July 2025

    The future of business calling: Voys brings your landline to the cloud

    14 July 2025
    Opinion

    A smarter approach to digital transformation in ICT distribution

    15 July 2025

    In defence of equity alternatives for BEE

    30 June 2025

    E-commerce in ICT distribution: enabler or disruptor?

    30 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.