Naspers has elected to cancel and reschedule a meeting of shareholders to approve the listing of its international Internet assets in Europe, with the target date for the listing now set for September.
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Naspers has made the first investment through its new Naspers Foundry start-up fund, buying a stake in Internet-based domestic cleaning service SweepSouth for R30-million.
Naspers subsidiary PayU is among the founding members of the Libra Association, a group of companies that will have an equal say in how Facebook’s new cryptocurrency is managed.
Naspers’s biggest shareholder is considering whether to reduce its R245-billion stake in Africa’s biggest company because of concern it’s overexposed to a single stock, sources said.
Naspers’s R2.4-billion takeover of Turkish online payment firm Iyzico consolidates its presences in one of the most dynamic e-commerce markets in the developing world.
Naspers, Africa’s largest company by market value, said its expects earnings grew by as much as a third in the latest financial year.
Naspers’s PayU agreed to buy Turkish digital payments company Iyzico for R2.4-billion in its biggest fintech acquisition yet.
MultiChoice will report a full-year headline loss per share of as much as R3.90, from earnings of R4.10 a year ago, as the result of foreign exchange losses and a decision to give additional equity to black investors at no cost.
When Naspers lists in Amsterdam, it will bring with it a dual shareholding structure to match or even exceed the worst practices of tech behemoths such as Facebook or Google parent Alphabet.
Naspers may be moving most of its Internet businesses to a new listing in Amsterdam, but the Cape Town-based technology investor is at pains to show it’s not abandoning South Africa.