Prosus, which listed in Amsterdam just last week, is splitting opinion among the first investment banks to cover the stock.
The astonishing things is that shareholders were asked to approve the new scheme – and did – without knowing what the performance condition was.
The dominance of Naspers over the South African stock market is about to be reduced – partially at least. And that’s good news for a number of fund managers.
Naspers said a newly created entity containing assets including a stake in Chinese internet giant Tencent Holdings will be valued at about $100-billion (R1.5-trillion).
Not all shareholders are perfectly happy with Naspers at the moment, which made the group’s AGM on Friday a livelier affair than usual.
Naspers is looking to invest in machine learning as Africa’s largest company seeks to expand following an Amsterdam listing of assets including a stake in Tencent Holdings.
Naspers has received enough votes from shareholders to proceed with an Amsterdam listing of assets including a R1.9-trillion stake in Chinese Internet giant Tencent Holdings.
Tencent Holdings posted a better-than-expected 35% rise in quarterly earnings after Peacekeeper Elite became the gaming giant’s first break-out hit since it won regulatory approval to make money off new titles.
China’s ByteDance has launched a search engine that bears a striking resemblance to Google’s clean, uncluttered homepage but produces heavily sanitised results.
Vivendi is in talks to sell 10% of Universal Music Group to China’s Tencent, helping the world’s biggest music company expand in fast-growing Asian markets. Vivendi shares rose as much as 9%.