Naspers, which is under pressure to find ways to reduce its hefty valuation discount, has decided for now not to pursue a secondary listing abroad. The internet holding company is considering structural options aimed at tackling its wide valuation gap relative to its Tencent stake, and has been looking at a secondary listing in Hong Kong and the Netherlands. Reducing the discount is a priority for shareholders, who want to see the intrinsic value of the group more fully reflected in its share price. Naspers said in a presentation posted on its website that it would not pursue a dual listing, nor would it unbundle its valuable stake in China’s Tencent. "The discount matters to us as it does to our shareholders, so we’re looking at a whole bunch of options and opportunities," Naspers chief financial officer Basil Sgourdos said. "Secondary listings may be one but I don’t think it’s top of the list, and it may also complicate some of the other things we’re trying. So let’s finish our wo...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.