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...
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.