Naspers, Prosus launch share swap deal to shrink S.Africa discount

12 May 2021

Peter Takaendesa, head of equities at Mergence Investment Managers, said while the move is a “decent solution” it might not be enough to close the valuation gap, and suggested selling the Tencent stake down would be more direct. Shares in Prosus rose 1.8% to 86.30 euros in Amsterdam while Naspers shares rose 2.6% to 325.67 rand in Johannesburg by 0803GMT.