The African multinational internet company Naspers will form a NewCo, a new group of its international internet assets. It will be listed on Amsterdam-based Euronext stock exchange. Naspers will own 75 per cent of NewCo, whose official name will be announced in the coming months. In its statement, Naspers said NewCo is “likely to become the largest listed consumer internet group in Europe by asset value,” which includes a 31 per cent (originally 46.5 per cent) stake in Tencent. (Quartz)
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The African multinational internet company Naspers will form a NewCo, a new group of its international internet assets. It will be listed on Amsterdam-based Euronext stock exchange. Naspers will own 75 per cent of NewCo, whose official name will be announced in the coming months. In its statement, Naspers said NewCo is “likely to become the largest listed consumer internet group in Europe by asset value,” which includes a 31 per cent (originally 46.5 per cent) stake in Tencent. (Quartz)
Talking point: One of Naspers’s ambitions has been to decrease the margin between its own market value and the value of its 2011 US$32-million investment in the Chinese internet company. The stake is now worth US$134 billion, about 30 per cent more valuable than Naspers itself. NewCo is a way to do that, opening Naspers up to a wider investor pool beyond South Africa’s capital markets.
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