CFO Basil Sgourdos: This enables international tech investors to access Naspers' portfolio of internet assets.
Naspers has announced their intention to list a new global consumer internet group on Euronext Amsterdam, and to also have a secondary, inward listing of that company on the Johannesburg Stock Exchange (JSE).
The as yet unnamed company will house and operate all Naspers’ international assets including its operations in classifieds, payments and food delivery and its investments in listed companies such as Tencent, Delivery Hero, MakeMyTrip and Mail.ru.
Naspers CFO, Basil Sgourdos said:
“This is a significant step for Naspers, presenting a new opportunity for international tech investors to access our attractive and unique portfolio of international internet assets.”
The new company is expected to be approximately 75 percent owned by Naspers and will have a free float of approximately 25 percent.
Basil said that this creates a truly global 100 percent online consumer internet company. The new company will be the largest of its kind listed in Europe exposed to a larger pool of global investors.
“We expect the scarcity value of what we bring to European markets will be recognised in the value we create for shareholders,” Basil said.
“This is yet another significant step in a number of big moves in recent years in Naspers’ evolution as one of the top 10 global internet companies. We believe it will create significant value for all stakeholders.”
Naspers CEO Bob van Dijk said that this has been a complex deal requiring the permission of the SA Reserve Bank and the JSE.
It will be the third most valuable share on Euronext and Europe’s biggest internet stock, projected to be worth comfortably more than $100 billion. It will also generate R1 billion in share transfer tax for the SA Treasury.