Prosus CEO Bob van Dijk has purchased about $10-million of the company’s shares on the open market.
Browsing: Bob van Dijk
Prosus plans to invest further in its fast-growing online car dealership business, expanding an e-commerce empire that already includes payments, food delivery and education.
Naspers first-half profit climbed 11%, driven by a large contribution from Chinese Internet giant Tencent.
Naspers and Prosus, the European-listed spin-off of Naspers, have appointed Ervin Tu as group chief of investments, strategy and mergers & acquisitions of both companies.
Prosus said its e-commerce business grew revenues and shrank trading losses for the year that ended 31 March, even as its overall profit continued to be dominated by its investment in Chinese technology giant Tencent.
Naspers spin-off Prosus is planning to expand its grocery services using “dark stores” as competition booms in the global market for food delivery.
A Swiss-based investment management firm says the proposed share swap between Naspers and Prosus is an “idiotic idea” that is certain to increase the discount with Tencent.
For now, Naspers and Prosus CEO Bob van Dijk has managed to figure out a short-term fix for his problem. Eventually he’ll need to think longer term. By Alex Webb.
Ultimately, investors may have to learn to live with the valuation gap between Naspers and Tencent. And management may have to ignore complaints about it and focus on growing Prosus’s investments.
Prosus on Wednesday announced plans to acquire up to 45.4% of shares in parent Naspers in a deal aimed at moving part of the value of their massive stake in Tencent to Europe from Africa.