Last Thursday was a knockout day for Naspers and Prosus on the JSE, with shares in both companies rallying by more than 5%.
When the discount didn’t narrow materially with the 2019 listing of Naspers’s global consumer internet assets on Euronext Amsterdam, Prosus embarked on a $5-billion share buyback programme last November with the aim of repurchasing up to $1.37-billion of its own shares and up to $3.63-billion of Naspers shares.
It is now three-quarters of the way through, having repurchased 100% of the allocation of Prosus shares and 65% of the Naspers shares it planned to buy. The investment bank said it expected Prosus’s internet assets to deliver earnings growth ahead of Tencent over the next two years, which should continue to support a narrowing of the discount.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: After $260 Billion Slide, Alibaba Aims to Show the Worst Is OverThat will be the question for executives and investors as the Chinese e-commerce giant reports earnings on Thursday in the wake of a government crackdown on co-founder Jack Ma’s empire. Profit and revenue for the quarter are sure to be less consequential than any concrete evidence about whether the regulatory issues are resolved. Normally I don’t do this, I don’t praise people for any reason,truth be told good work deserve appraisal,I wound deny the fact that I’m super jealousy of your hard work and skill. I’m proud of you and what you do in the life of people we need more people like you Sharon_cryptofx
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Bidvest lets go of underperforming travel business in portfolio clean-upBidvest has disposed of its travel interests in its ongoing effort to reorganise the company for higher growth.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Concrete developments: Rights issue pressure is off as PPC sells its lime businessThe disposal means the cement producer may not have to resort to a rights issue. But after a strong run in its share price, raising fresh equity capital may still be an option.
Source: dailymaverick - 🏆 3. / 84 Read more »