Friday 14 August 2020

South Africa’s Naspers to list international businesses in Amsterdam

Photo: DutchNews.nl

South African tech and media investor Naspers is spinning off its main internet businesses and listing them on the Amsterdam stock exchange, the company said on Monday.

Naspers, which has a primary listing on the Johannesburg stock exchange, plans to list its international internet businesses on Euronext Amsterdam.

The businesses include its 31% stake in Chinese giant Tencent, as well as holdings in Russian internet platform Mail.Ru and German food delivery business Delivery Hero.

The spin-off, whose official name will be launched in the coming months, will be 75% owned by Naspers, with the rest a free float, the South African company said.

‘Forming and listing a new, global consumer internet group on Euronext Amsterdam is a significant step for Naspers,’ chief executive Bob van Dijk said in a statement.

‘It will provide a strong platform to attract incremental investor capital, which is well-aligned to our growth goals.’

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