Prosus said on Friday will cut ties with its Russian online marketplace Avito, and will not seek to benefit economically from its ownership of the business.
Browsing: Prosus
The JSE had a spectacular trading session on Wednesday after Tencent Holdings’ shares leapt more than 23% in Asian trading.
Investors punished Chinese shares again on Tuesday, inflicting further collateral damage on South Africa’s Naspers and its European-listed spinoff, Prosus.
Shares in Naspers and its spinoff Prosus tumbled on Monday after a report said Tencent Holdings faces a record fine in China.
Prosus expects to write off the equivalent of R11.8-billion and has asked its directors on the board of social media platform VK to resign.
Tencent denied talk that it’s facing a major regulatory crackdown in China, issuing an unusually aggressive public response. Shares in Naspers still tanked.
Austria-based education technology start-up GoStudent has raised €300-million in a new round of funding led by Prosus.
Prosus CEO Bob van Dijk has purchased about $10-million of the company’s shares on the open market.
MTN Group had a barnstorming 2021. The telecommunications group, despite its size, was the best performer among technology shares in South Africa last year.
Tencent will hand a R258-billion JD.com stake as a dividend to its shareholders, raising questions about its plans for other holdings.