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Africa’s Biggest Firm Lists in Europe

Naspers has listed its global empire of consumer internet assets under the name of Prosus – and the jewel in the crown is a 31% stake in Chinese tech titan Tencent. The launch on the Amsterdam Stock Market marks the end of an era for Naspers as it looks to move beyond the legacy of former CEO 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 helped Naspers’ rapid growth towards becoming Africa’s most valuable listed company. It is expected that Prosus will have a market value of more than $100 billion, which would make it the third-largest stock on the Amsterdam stock exchange after Shell and Unilever.

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Alastair Tempest

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