Naspers on Tuesday reported a 78% slump in annual profit, led by a drop in the contribution from Tencent.
Browsing: Prosus
The tech investor warned its profit dropped significantly last year due to impairments and lower contributions from Tencent.
Prosus is exploring potential divestments from fintech company PayU, according to people familiar with the matter.
Naspers-owned Prosus has continued its selloff of China’s Tencent, bringing its stake in the Chinese internet giant to under 26%.
Tencent Holdings tumbled by the most in seven weeks amid speculation its controlling shareholder, Naspers-controlled Prosus, may speed up selling shares.
A family trust linked to Naspers chairman Koos Bekker has offloaded the euro equivalent of R3.4-billion in Prosus, according to a regulatory filing.
Naspers is backing rent-to-buy car firm Planet42 in a $100-million debt and equity fundraising.
Prosus and its parent Naspers are planning to cut their corporate workforce by 30%, becoming the latest companies in global tech to announce layoffs.
The JSE reached an all-time high on Monday morning, led by South African technology and mining stocks.
Interim profit slipped 93% as the technology investor increased funding of its businesses and took a knock from Tencent.