As a result, Naspers traded at a discount of about 30%-35% of the value of its assets, said Jean Pierre Verster, founder and CEO of Protea Capital Management.That's where the move to Amsterdam should help. It should become clearer to investors how its other bets are performing, which could determine whether the discount on the stock narrows further.Even when Tencent is excluded, Naspers has delivered returns of more than 20% a year, considerably outperforming most equity markets, said Ruan Stander, a portfolio manager at Cape Town-based asset manager, Allan Gray. Naspers owns a 31percent stake in Tencent, the owner of WeChat, through its subsidiary, Prosus. Chat with us in Facebook Messenger. Investment from actively managed European, growth and technology funds is expected to top that, Naspers CEO Bob van Dijk said in a The deal also carries some risk for Naspers. All times are ET. “This directly impacts Naspers and Prosus via Tencent and … Find out what's happening in the world as it unfolds.Called Prosus, the company was worth €95 billion ($105 billion) at listing, making it the biggest consumer tech stock in Europe and the second biggest tech company in the region behind German software group Prosus shares soared 26% by the close, boosting its market value to €120 billion ($132 billion).But the windfall gains created a headache for Naspers. Naspers holds a 31% stake in Tencent, through Prosus. That investment is now worth €118 billion ($130 billion). Factset: FactSet Research Systems Inc.2018.
All rights reserved. All rights reserved. It accounted for 25% of the combined value of the 40 biggest companies on the Johannesburg Stock Exchange — up from 5% just five years ago. Tencent, which owns the WeChat messaging platform and a host of payment apps and mobile games, is one of China's largest technology groups. A new global consumer internet group On 25 March 2019, Naspers announced its intention to list its international internet assets on Euronext Amsterdam with a secondary, inward listing on the Johannesburg Stock Exchange in South Africa. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. 29 July 2020 Prosus delivers solid results for the twelve months ended 31 March 2020.
Naspers subsidiary Prosus NV, which holds the company’s stake in Tencent, retreated 5.4 percent. Please visit the official Government information portal for Coronavirus by clicking Naspers subsidiary Prosus NV, which holds the company’s stake in Tencent, retreated 5.4%. Tencent declined by 10percent and shed more than … DURBAN - JSE heavyweights Naspers and Prosus shed more than 4percent and 5percent, respectively, on Friday, exposed to financial material risk via their stake in Tencent, after US President Donald Trump prohibited US residents from doing business with Chinese-owned TikTok and WeChat apps.Naspers owns a 31percent stake in Tencent, the owner of WeChat, through its subsidiary, Prosus.Tencent declined by 10percent and shed more than $45billion in market capitalisation in Hong Kong.Prosus declined to R1654.69 a share on JSE on Friday afternoon, but closed 3.82percent lower at R1676.34, while Naspers fell to R13073, and closed 4.18percent down at R13462.Both stocks have had a good run in 2020, with Naspers gaining more than 23percent since the beginning of the year, while Prosus has gained more than 35percent so far this year.Peter Takaendesa, the head of equities at Mergence Investment Managers, said Tencent had significant direct investments in US online gaming companies, as well as business relationships with many other US businesses, which sell their content on Tencent’s platforms in China.“This could be a material financial risk to Tencent if it is forced to exit some of those investments at valuations below their intrinsic value, but our understanding is that these investments are currently not part of the executive orders,” he said.He said the weaker rand had been helping Naspers and Prosus to limit the loss compared to the Tencent move, but this could change at any time as daily moves in share prices were driven more by sentiment than pure fundamentals.Takaendesa said although the technology wars could limit Tencent’s international expansion in the long run, the business remained in a strong position in China, with many growth drivers as the digital migration of many traditional industries was continuing to play in their favour.“One has to keep in mind that global technology shares have performed very well so far in 2020 and any reactions to news flow also need to be seen in that context,” he said.Takaendesa added that TikTok was estimated to have more than 100million users in the US and, therefore, had a meaningful direct presence.However, WeChat had very limited direct exposure in the US and was not material to Tencent.Wealthy Hong Kong investors stay put with crisis plans ready
The listing by South African media conglomerate Naspers of assets including part of its Tencent stake via the new Prosus vehicle in Amsterdam in September was heralded as a way to reduce the deep discount to net asset value (NAV) at which Naspers shares trade. Naspers is a global internet group and one of the largest technology investors in the world. Social media just made it easier to spreadTwitter temporarily limits Donald Trump Jr.'s account Social media giants remove viral video making false coronavirus claimsThis AI technology tracks employees to enforce social distancingPalantir's CEO says its tech is used 'on occasion' to kill people. Click to subscribe to real-time analytics on NPSNY Now read: ProSiebenSat.1 Media SE 2020 Q2 - Results - Earnings Call Presentation » Here's why it's worth billionsBill Gates' message to Covid-19 conspiracy theoristsThis portable ultrasound technology could help fight Covid-19 All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates.Chinese tech giant could buy stake in Universal Music GroupChinese tech giant could buy stake in Universal Music GroupNavarro: This is the issue with Microsoft potentially buying TikTokFiery exchange erupts at congressional antitrust hearingUnder questioning, Zuckerberg admits Instagram was a 'competitor'Congresswoman grills Facebook CEO on copying competitorsRussian misinformation isn't new.
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