Naspers affiliate Tencent’s shares are dangerously close to losing a key support level.
Prosus, which listed in Amsterdam just last week, is splitting opinion among the first investment banks to cover the stock.
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).
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.