Adriaan Kruger
3 minute read
20 Feb 2021
7:46 am

Naspers still too big for JSE pond

Adriaan Kruger

The separate listing of Prosus in Amsterdam did little to unlock the not-so-hidden value.

Picture: Moneyweb

Whenever Naspers and Prosus management address any of their stakeholders – this time a quick update on the group’s operations – somebody will quickly pose the question of what management is doing to address the discount of the Naspers share price to its underlying net asset value (NAV). It’s a question that Prosus and Naspers CEO Bob van Dijk is probably tired of hearing, and one that he has no answer to. The separate listing of Prosus on the Amsterdam stock exchange in September 2019 to house Naspers’s valuable Tencent interest and its other international internet businesses, such as the...