|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||147.70 - 147.70|
|52 Week Range||139.95 - 261.20|
|Beta (3Y Monthly)||0.54|
|PE Ratio (TTM)||9.35|
|Forward Dividend & Yield||0.49 (0.33%)|
|1y Target Est||N/A|
South African e-commerce giant Naspers reported a 48% slump in half-year profit on Friday, at the better end of its guidance range after a previously-flagged drop in gains on investments at China's Tencent. Founded more than 100 years ago, Naspers has transformed itself from a newspaper publisher into an empire worth almost $70 billion, with its 31% stake in Tencent the jewel in its crown. Naspers said earlier this week its profits could fall by up to 53.6% after a reduction in fair value gains on investments held by Tencent from $1.4 billion in 2018 to $400 million this year.
will allow the food delivery pioneers to see off new competition from Uber and Deliveroo, as he tries to rally support from investors in the face of a rival bid from Naspers. Jitse Groen, who founded Amsterdam-based Takeaway 20 years ago, said there is “no proof” that companies that rely on their own delivery network for the majority of their orders can ever turn a profit. as a rival bidder for Just Eat last month, Mr Groen sought to reassure investors that the experience of the Takeaway management team could withstand well-funded rivals such as Deliveroo.
Investors increasingly are navigating around the 800-pound panda. It isn’t easy, but it can pay off by minimizing the fallout from the trade war. Finding opportunities in Southeast and South Asia, Latin America, and even Russia and Eastern Europe.
Shares in Prosus, a spin-off from Naspers that includes the e-commerce group's 31% stake in Chinese tech giant Tencent, surged more than 25% on their stock market debut in Amsterdam on Wednesday, creating one of Europe's largest internet companies. Prosus comprises South African group Naspers' global empire of consumer internet assets, including the stake in Tencent, the world's biggest video game company and home to China's hugely popular WeChat social media platform. "We've become so big that further growth of our company on the JSE (Johannesburg Stock Exchange) would be difficult," Naspers CEO Bob van Dijk told reporters after the listing, which values Prosus at more than $100 billion.
Shares in the spin-off of South African e-commerce group Naspers surged more than 25% in the first minutes of their market debut in Amsterdam on Wednesday. Prosus comprises Naspers' global empire of consumer internet assets, with the jewel in the crown a 31% stake in Chinese tech titan Tencent. There is "way more demand than is even available, so that’s good," said the CEO of Euronext Amsterdam, Maurice van Tilburg.
* What is Prosus? Prosus, a Latin word that can be translated as "forwards", is a portfolio manager that invests in fast-growing consumer internet companies in developing nations. The new entity's biggest draw is the stake in conglomerate Tencent, the world's biggest videos game company, a social media platform to rival Facebook via its billion-user WeChat app, as well as a payments giant.
South African e-commerce group Naspers is listing its global empire of consumer internet assets under the name of Prosus on Wednesday - and the jewel in the crown is a 31% stake in Chinese tech titan Tencent. The spin-off in Amsterdam marks the end of an era for Naspers as it looks to move beyond the legacy of former Chief Executive Koos Bekker's prescient investment of just $34 million in Tencent when it was a startup in 2001, one of the most lucrative bets in corporate history. The stake in Tencent, the world's biggest videogame company and home to the hugely popular WeChat social media platform, is now worth $130 billion and has buttressed Naspers' rapid growth towards becoming Africa's most valuable listed company.
In 2001, Naspers, a media company that launched in 1915 and later evolved into a media holding company with pay TV interests, agreed to invest $32 million for a 46.5% stake in Tencent. The China-based company had been founded just three years earlier, and, as Quartz notes in a 2014 story about the deal, Tencent wasn't a brand that many aside from users of its instant messaging platform, QQ, knew at the time. Of course, given Tencent's wild growth, it has largely come to define Naspers .
Sep.11 -- Naspers Ltd. Chief Executive Officer Bob van Dijk discusses the company's new Dutch listing Prosus NV in an interview in "Bloomberg Markets: European Open."