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Naspers fell 30% after listing its spin-off Prosus. Here’s what happened…

12 September 2019 9:42 AM
Tags:
The Money Show
Simon Brown
Bruce Whitfield
Naspers
Personal finance
Tencent
Just One Lap
Prosus

Prosus is now the holder of a 31% stake in Chinese tech giant Tencent. Financial educator Simon Brown explains.

Naspers dropped 30% (to R2465) after listing its offshore internet assets in Amsterdam as a separate company called Prosus.

The steep fall in the share price is due to Naspers now owning only 75% of Prosus (instead of 100% of it on Tuesday).

Prosus is now the holder of a 31% stake in Chinese tech giant Tencent.

Naspers retains control of Prosus through its ownership of 75% of Prosus' shares.

The Money Show’s Bruce Whitfield asked Simon Brown, a financial educator at Just One Lap, what happened with Naspers on Wednesday.

Listen to the interview in the audio below (and scroll down for quotes from it).

There are caps on how much of an individual share you can own. Now you’ve got two shares… No one wants to invest more than 15% in any individual share…

Simon Brown, Financial Educator - Just One Lap

Naspers was about 22% of the Satrix Top-40… It’s now about 15%... Prosus today went into that Top-40 index…

Simon Brown, Financial Educator - Just One Lap

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This article first appeared on 702 : Naspers fell 30% after listing its spin-off Prosus. Here’s what happened…


12 September 2019 9:42 AM
Tags:
The Money Show
Simon Brown
Bruce Whitfield
Naspers
Personal finance
Tencent
Just One Lap
Prosus

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