Naspers plans to list international assets, including Tencent, in Europe
SA’s largest public company says it wants to list assets on the Euronext Amsterdam exchange, with a secondary listing on the JSE
The JSE is set for a shake-up as SA’s largest public company prepares to list its offshore assets in Europe. Naspers, which has faced repeated calls from investors to find ways to unlock value, said on Monday it planned to list its non-SA internet operations in Amsterdam, including its prized stake in China’s Tencent. Africa’s largest public company said it wanted to list those assets on the Euronext Amsterdam exchange, with a secondary listing on the JSE. The entity, called NewCo, was likely to be the largest listed consumer internet group in Europe by asset value, Naspers said. Naspers, which will retain its primary listing in Johannesburg, said it planned to retain about 75% of NewCo, which will hold the group’s investments in Tencent, mail.ru, OLX, Avito, Letgo, PayU, iFood, Swiggy, Delivery Hero, Udemy, eMAG and MakeMyTrip. The listing is expected to happen in the second half of 2019, Naspers said. “Forming and listing a new, global consumer internet group on Euronext Amsterdam...
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