Naspers plans Prosus share swap

MONEYWEB
app instead?
In new effort to boost value.
By Thomas Pfeiffer and Loni Prinsloo, Bloomberg
12 May 2021 
09:40 
Image: Jasper Juinen/Bloomberg
Naspers investors will be able to swap their shares for those of its Dutch-listed unit, Prosus, in another effort to narrow a valuation gap with its Chinese affiliate Tencent Holdings.
The move may more than double the number of Prosus shares available for trading, making the stock more liquid and giving Prosus a stake of 49.5% in Naspers, the parent company said in a statement on Wednesday. The market capitalisation of the free float would be worth more than $100 billion.

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