Ann Crotty
3 minute read
9 Apr 2021
8:43 am

Prosus shareholders are nervous

Ann Crotty

On Wednesday Prosus told shareholders it would use the proceeds of the sale 'to increase its financial flexibility to invest in growth, plus for general corporate purposes'.

Picture: iStock/ monsitj

  News that Prosus was selling off another 2% of Tencent saw both Prosus and Naspers shares take a hit on Wednesday morning, indicating that investors were nervous about what the Prosus board might do with the cash injection of around $15 billion. On Wednesday Prosus told shareholders it would use the proceeds of the sale “to increase its financial flexibility to invest in growth, plus for general corporate purposes”. Prosus chair Koos Bekker said: “Tencent is one of the world’s best growth enterprises. It has consistently delivered value since listing in 2004. Prosus’s commitment to Tencent remains steadfast. Through the sale...