|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||29.17 - 29.64|
|52 Week Range||25.85 - 35.61|
|Beta (5Y Monthly)||0.57|
|PE Ratio (TTM)||11.16|
|Forward Dividend & Yield||0.10 (0.34%)|
|1y Target Est||N/A|
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."
When it comes to M&A, cash is usually king. Not so for Just Eat which on Tuesday rejected an improved offer from Prosus saying the new bid still “significantly undervalued” the U.K. food delivery company.
Just Eat has rejected a fresh attempt by South Africa’s Naspers to disrupt the food delivery group’s planned tie-up with Takeaway.com, saying the sweetened offer “significantly undervalues” the company. Prosus on Monday boosted its cash offer for Just Eat by 30p a share to 740p following “extensive discussions” with Just Eat investors.
Prosus, Naspers’ Dutch-listed arm, has raised its cash offer for Just Eat from 710p to 740p. Prosus’ 710p offer, launched months after Just Eat and Takeaway.com agreed a tie-up, was not going to get the deal done. Aberdeen Standard Investments, Just Eat’s fifth-largest shareholder, reckoned then that Prosus needed to bump up its offer by 20 per cent to be deemed attractive.
Naspers boosted its cash bid to take over Just Eat to just over £5bn, escalating a battle with Takeaway.com to win over the food delivery company’s shareholders. Prosus, the South African internet conglomerate’s Dutch-listed international investment unit, said on Monday that it had raised its offer by 30p a share to 740p following “extensive discussions” with Just Eat investors. Prosus launched a hostile bid for the London-listed group in October after Takeaway unveiled an all-share offer that valued Just Eat at 594p per share.
Moody's Investors Service ("Moody's") has today assigned a Baa3 long-term issuer rating to Prosus N.V. ("Prosus") and a (P)Baa3 rating to its proposed $6 billion Global Medium Term Note (GMTN) Program, which Prosus is establishing to facilitate future bond issuances. Moody's has also affirmed the Baa3 ratings on the existing bonds issued by Prosus (formerly Myriad International Holdings B.V.).
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.
Dubai, November 07, 2019 -- Moody's Investors Service ("Moody's") has today taken rating actions on five South African corporates. These rating actions follow Moody's sovereign outlook change, on 1 November, of the Government of South Africa's ratings to negative from stable and affirmation of the Baa3 long-term foreign-currency and local-currency issuer ratings.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Naspers Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
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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.