South Africa’s Naspers to list on Euronext Amsterdam Exchange

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Naspers, a broad-based multinational internet and media group headquartered in South Africa, said it plans to list its international consumer internet assets in Amsterdam on July 17, 2019.

In March, Naspers, which is Africa’s largest public company said it would separately list assets, including its prized stake in China’s Tencent and its classifieds and food-delivery operations.

This followed pressure from investors to reduce Naspers’s valuation discount, which the company blames largely on it having outgrown the JSE.

Naspers said it would own at least 73 percent of the Amsterdam-listed entity. The group, which would retain its primary listing on the JSE and secondary listing on A2X, was expected to remain the largest South African company on the JSE by market capitalisation.

The company would also not lose its inclusion in JSE indices and would directly own Media24, Takealot and Property24.

According to Naspers, if shareholders approve the deal, the new entity will list on the Euronext Amsterdam exchange and the JSE on July 17, 2019.

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