JSE’s proposal for Naspers and Prosus could undermine confidence
The bourse wants to change its approach despite months of consultations before the Prosus listing
Recently, the JSE requested comments with regard to a consultation on proposed changes to the treatment of Naspers and Prosus in the FTSE/JSE Capi index. People arguing for the change say it is to protect investors — both institutional and private — who should never be overexposed to one company or sector. But far from protecting investors, this new proposal has the potential to harm them.
Before listing Prosus, extensive consultations took place over eight months to determine the optimal manner in which the secondary, inward listing of Prosus on the JSE could be executed, in the interests of all stakeholders and investors, with the objective of unlocking value for investors...
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