Business Maverick: Naspers made a major announcement on Monday. Or was it? Actually, it was. And it wasn’t

Naspers announced on Monday it would be hitching a ride to Amsterdam to list on the Euronext exchange, listing all its international assets in Europe in a company that would still be controlled by JSE-Listed Naspers.

The result is that instead of a two-level pyramid, we now have a three-layer pyramid. So why is this a good thing? The company’s solution to this problem – the kind of problem by the way that everyone on the planet would want – is to try and increase the liquidity of the share, and that means trying to create more buyers.

“The listing will present an appealing new opportunity for international tech investors to have access to our unique portfolio of international internet assets,” said Naspers Chief Executive Bob van Dijk.

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Business: Naspers made a major announcement on Monday. Or was it? Actually, it was. And it wasn’tNaspers announced on Monday it would be hitching a ride to Amsterdam to list on the Euronext exchange, and in paralaxims of joy, the stock market’s reaction was to do sort-of exactly nothing.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »