Naspers To List Tencent And Other Internet Assets In Amsterdam

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Naspers is the most valuable listed company in Africa.

NASPERS

Naspers, the most valuable public company in Africa, will list Tencent and all its non-South African internet assets on Euronext Amsterdam, making it Europe’s largest listed consumer internet company by asset value, it says

This will comprise all of the global internet and media giant’s interests in online classifieds, food delivery, payments, etail, travel, education, and social and internet platforms sectors. Apart from Tencent, these include mail.ru, OLX, Avito, letgo, PayU, iFood, Swiggy, DeliveryHero, Udemy, eMAG, and MakeMyTrip.

A NewCo will be formed for this Amsterdam listing that will be approximately 75% owned by Naspers, with a free float of the remaining 25%. Naspers will retain its primary listing on the Johannesburg Stock Exchange (JSE).

“Forming and listing a new, global consumer internet group on Euronext Amsterdam is a significant step for Naspers,” Naspers CEO Bob van Dijk said. “As well as opening up investment to a broader category of investors, the listing aims to reduce our weighting on the Johannesburg Stock Exchange, which we believe will help us maximize shareholder value over time.”

Naspers was the first company to reach the R1 trillion mark in its home country of South Africa and is the most valuable listed company in Africaafter AB InBev acquired South African Breweries.

He says it will provide a strong platform to attract incremental investor capital, which is aligned to its growth goals. “The listing will present an appealing new opportunity for international tech investors to have access to our unique portfolio of international internet assets. It will comprise some of the world’s leading and fastest-growing internet companies that are playing an increasingly important role in helping people improve their daily lives in some of the most exciting markets on the planet.”

Earlier this year, it unbundled MultiChoice, the largest satellite broadcaster in Africa, which propelled it to the Top 40 companies on the JSE with a R50 billion valuation.

[“source=forbes”]

Author: Eric