You are currently viewing our desktop site, do you want to visit our Mobile web app instead?
 Registered users can save articles to their personal articles list. Login here or sign up here

Naspers says it has enough votes to proceed with Prosus listing

Shareholders give Naspers the green light to list its Tencent stake as well.

Naspers has received enough votes from shareholders to proceed with a listing of international assets including a stake in China’s Tencent in Amsterdam next month.

Africa’s largest company by market value needed support from at least 75% of investors to spin off the newly created entity, known as Prosus. Naspers has now got sufficient backing, company secretary Gillian Kisbey-Green said at a shareholder meeting in Cape Town.

Read: Naspers to separate Tencent stake

Naspers will retain a majority stake in the new group, which will also have investments in internet firms from Germany and the US to India and Brazil. The listing is scheduled to take place on September 11.

© 2019 Bloomberg L.P.

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   1

To comment, you must be registered and logged in.

LOGIN HERE

Don't have an account?
Sign up for FREE

Does this journalist not understand the share structure? You don’t need 75% of “investors” to vote in favour of this motion because of the A-share and N-share structure of Naspers.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

SHOP NEWSLETTERS TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: