Naspers CEO bets Dutch listing will fix Tencent stake discount
25 March 2019 10:56 AM GMT
Naspers Chief Executive Officer Bob van Dijk has been working for years to solve a problem rivals might envy ? getting investors to value his South African firm nearer to its $133bn stake in Tencent.
- has been working for years to solve a problem rivals might envy – getting investors to value his South African firm nearer to its $133bn stake in Tencent Holdings.
- By carving out its international internet businesses, including the 31% holding in the Chinese tech giant, for a listing on Euronext Amsterdam, van Dijk hopes to tap a bigger pool of capital and shrink a discount that’s been worsened by Naspers’ outsize presence on the Johannesburg Stock Exchange.
- "This will be the largest consumer internet business," in Europe and the third-largest company on the Amsterdam exchange, van Dijk said in a phone interview, noting that he expects to attract 2bn euros of investment just from index funds.
- Naspers to separate Tencent stake, web assets in Dutch listing
- Amsterdam has become attractive to companies as Brexit uncertainties weigh on the UK, including listings on the London Stock Exchange.
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