Returns as of 07/31/2020. Even after the sell-off, Naspers makes up 14% of the index, which may still be large enough to generate upward resistance to the stock price. ... NPSNY 1 Month Total Returns (Daily) data by YCharts. The spin-off is designed to close the valuation gap between the company's share price and its Tencent stake, an annoyance that shareholders … Shareholders who wanted out of Naspers to own Prosus may still continue to sell Naspers for some time to come.However, I don't think the yawning gap between Naspers and Prosus can last over the long term. Earlier this year, Naspers announced plans to spin off its global internet businesses — including its Tencent stake — into a new company fittingly called “NewCo,” to be listed on Euronext Amsterdam, with a secondary listing on the JSE. The spin off is expected to be tax free and the new company will trade on the NYSE under the ticker ‘ALC’. NPSNY News Headlines. Occasionally a company will spin off shares in another company to all of its shareholders.
It is the second largest tech company in Europe. It to originated from Naspers. That means a Novartis shareholder with 100 shares will end up with 20 shares of Alcon. However, if Naspers was able to make up over 20% of the JSE at one point, it's difficult to understand why it wouldn't be allowed to rise to that weighting again. According to the press release:An administrative error by an external service provider has resulted in certain of the copies of the circular delivered to shareholders being incorrectly labelled. And the bigger Tencent got, the bigger the discount at which Naspers traded relative to the value of its Tencent stake alone.That's why Naspers decided to take action earlier this year and announced a When Prosus was listed on the Euronext exchange last week, the stock immediately soared 30%, from the reference price of 58.70 euros to a high of 76 euros on its first trading day. “In addition to Tencent’s outperformance, we expect the recent compression in the holding company’s discount to be sustained as it reduces its South African sovereign exposure.”Prosus had net income of about $1.4 billion for the three months through June, compared with $1.1 billion the previous year, Naspers said.JPMorgan, Goldman Sachs Group Inc. and Morgan Stanley are the main financial advisers on the Prosus listing. Other positives included "significantly reduced" losses in its e-commerce operations and the revelation of "larger ambitions" in food delivery.
Market data powered by Alcon Spin-off Thoughts. That's right -- a $100 billion-plus transaction is being held up because of a minor snafu with mail labels. If it persists, Naspers management may be forced to spin off more of Prosus, or even break it up further into different parts, such as by separating Tencent from the other companies it owns in food delivery, fintech, and other online classifieds.Still, it appears that fully closing the gaps separating Naspers, Prosus, and Tencent may take more patience on the part of Naspers investors.Stock Advisor launched in February of 2002. As of the end of day Thursday, Sept. 19, Naspers shares were down 36% from the pre-spin price -- a full 10 percentage points greater than the 26% spinoff of Prosus. Alongside the Tencent stake, the new company will hold businesses from Brazil to Germany in industries such as online food delivery and classified advertising.A value of $100 billion would make only Royal Dutch Shell Plc and consumer-goods giant Unilever bigger in Amsterdam by market capitalization. - Naspers financial results FY20 press release - Naspers financial results FY20 booklet In the recent past, I've advocated for owning Chinese internet giant The Tencent success has come to overshadow Naspers itself, as well as its other investments. Other news sources are not available. I recently wrote about Naspers (NASDAQOTH: NPSNY) and the upcoming spin-off of its international internet assets. It's good that Naspers is playing more safe than sorry for its shareholders, although it is a pretty safe bet that shareholders will vote in favor of the move regardless. Tencent has fallen only about 2%. NPSNY NPSNY NEWS HEADLINES. In this case it appears investors have owned Naspers in order to get Prosus.
Multichoice Group, the African television provider dominates the market, providing service to over 14 million households throughout Africa.