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9/11/2019, 9:59 AM (Source: TeleTrader)
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Naspers lists $100B spinoff on Euronext Amsterdam

South African internet and media company Naspers Ltd. listed its spinoff Prosus N.V. on the Euronext Amsterdam exchange on Wednesday under the ticker "PRX" and issued a secondary listing on the Johannesburg Stock Exchange. Naspers will keep a 75% stake in the firm whose assets include a 31% stake in Chinese giant Tencent Holding Ltd, paid only $32 million in 2001, when Tencent was just a startup.

Naspers expects Prosus to have a market capitalization of $100 billion, making it the third most valuable company listed on the exchange and Europe's second-biggest tech company. "We believe Prosus will present a new and attractive opportunity for global tech investors to access our unique portfolio of internet businesses, providing a strong foundation for our future growth plans," said Naspers CEO Bob van Dijk.

Prosus said it issued N ordinary shares with a nominal value of €0.05.

Baha Breaking News (BBN) / NI