Prosus announces $5bn share buyback programme
The Naspers stable, which has a 31% stake in Chinese media giant Tencent, has long sought to reduce the discount at which its shares trade
30 October 2020 - 09:06
Prosus, the consumer internet arm of Africa’s most valuable company Naspers, has announced an up to $5bn (R82bn) share buyback programme as it seeks to help close the gap between the value of its underlying assets and its shares.
Prosus was spun out of Naspers and separately listed in September 2019, partly to help reduce the discount at which its shares trade relative to its net asset value per share...
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