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.
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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.
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 will list on its consumer Internet business on Amsterdam’s Euronext exchange on 17 July, subject to market conditions, in a bid to unlock shareholder value.
Naspers, the most valuable company on the JSE, will prioritise investments in classifieds, financial technology and food — activities that it could possibly hive off with separate share listings in the right circumstances.
The perennial worry about European technology is that there isn’t a consumer-facing giant to rival the size of Apple, Google, Facebook and Amazon.com. In one fell swoop, it’s about to get one. Sort of.
TechCentral editor Duncan McLeod spoke to Naspers chief financial officer Basil Sgourdos about the group’s plans to list its international consumer Internet businesses in Amsterdam and what happens next.
In a significant move aimed at unlocking shareholder value, Naspers announced on Monday that it will form a new global consumer Internet group that it plans to list in Europe.