Technology investor Prosus and sister company Naspers fell sharply in Amsterdam and Johannesburg trading after China’s move to place restrictions on the country’s education-technology sector.
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Naspers, through its Foundry start-up investment business, said on Wednesday that it is investing R34-million in Ctrl, a digital short-term insurance marketplace that connects consumers, brokers and insurers.
Naspers-controlled consumer Internet investment group Prosus is leading an R18.2-billion funding round in Indian food-delivery giant Swiggy. Japan’s SoftBank Group is a co-investor in the round.
Shareholders of technology investor Prosus on Friday approved a deal with parent Naspers that will move most of the economic value of the intertwined companies to Amsterdam.
China’s antitrust regulator is set to formally block Tencent Holdings’ plan to merge the country’s top two videogame streaming sites, Huya and DouYu, three people familiar with the matter said.
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.
Naspers-controlled Takealot group reported revenue growth of 55% in the last financial year despite a ban on unfettered e-commerce during the height of the hard lockdown in 2020.
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 reported a 24% rise in profit for the year that ended 31 March, boosted primarily by the performance of its investment in China’s Tencent Holdings, the company said on Monday.
Naspers spin-off Prosus has acquired a majority stake in GoodHabitz, a European provider of online training for businesses, for €212-million.