Prosus to trim Tencent stake as core headline earnings slump

AMSTERDAM :Prosus NV, the Dutch-based technology investor, on Monday reported a 20 per cent fall in annual core headline earnings and announced a major share repurchasing programme.

"This will efficiently unlock immediate value for shareholders because we're selling shares at full value and we're buying back our stock at a considerable discount," CFO Basil Sgourdos said. Sometimes compared to SoftBank and its Vision Fund https://www.reuters.com/business/finance/europes-softbank-prosus-plays-long-game-shrink-value-gap-2021-07-08, Prosus owns stakes in a wide range of consumer internet companies including meals delivery companies Delivery Hero of Germany & South Korea, iFood of Brazil and Swiggy of India, PayU in payments, and Stack Overflow and Codecademy in educational software.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Prosus to trim Tencent stake as FY core headline earnings slumpAMSTERDAM : Prosus NV, the Dutch-based technology investor, on Monday reported a 20 per cent fall in its core headline earnings, a non-standard measure, for its financial year and also announced a major share repurchasing programme.The company plans to release its profit and loss figures later in the day.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Prosus to trim Tencent stake as FY core headline earnings slumpAMSTERDAM : Prosus NV, the Dutch-based technology investor, on Monday reported a 20 per cent fall in its core headline earnings, a non-standard measure, for its financial year and also announced a major share repurchasing programme.The company plans to release its profit and loss figures later in the day.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »