Pony Ma’s Tencent Holdings has been put on notice. Asia’s largest conglomerate was censured by China’s antitrust watchdog on Friday as Beijing expands a crackdown that began with Jack Ma’s online empire.
Browsing: Prosus
Whenever Naspers and Prosus management address any of their stakeholders, somebody will ask what they’re doing to address the discount of the Naspers share price to its underlying net asset value.
Naspers is looking at ways to reduce its dominance of the JSE, an issue that is hampering efforts to narrow a widening valuation gap between the company and its stake in Chinese Internet giant Tencent.
South Africa’s main share index jumped 2.1% as of 10.07am in Johannesburg, setting a fresh intraday record, as Naspers was lifted by a surge in partly owned Chinese online giant Tencent.
Prosus is investing in agritech company DeHaat in a bet on India’s $350-billion farming industry. The group led a series-C funding round of $30-million that DeHaat will use to expand.
Prosus is on the lookout for acquisitions after the Dutch e-commerce giant reported a 28% rise in first-half earnings and a net cash position of US$4.3-billion.
Prosus, the giant investor in online classifieds, food delivery and payments, expects to report a 16.9% to 22.7% growth in earnings per share for the six months to the end of September, it said on Monday.
Naspers spin-off Prosus, which became Europe’s largest technology company this week, has always been something of a Gordian knot for investors.
Naspers’s European-listed Internet investment holding company Prosus announced on Friday that it plans to acquire up to $5-billion in both Naspers and Prosus shares in a massive share buyback programme.
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