Accepting shares in Prosus will trigger a tax event – requiring the payment of tax on what in for some are spectacular capital gains. Note also that the stakeholder would need to fund the CGT. Returns as of 07/31/2020.Though the proceeds only amount to around 2% of Naspers' market capitalization, since Naspers currently trades at a discount to its Prosus stake, any buyback would be value-add. 29 June 2020 Indonesian startup, Shipper, secures Series A funding. Tencent's stock still hasn't recovered to those levels as of yet. The new group listed on Euronext Amsterdam on 11 September 2019 and is called Prosus. Representatives for Adevinta and the private equity firms declined to comment.The EBay classifieds portfolio includes online marketplaces separate from the company’s eponymous auction platform. Rather than having to pay more later.Naspers’s newly created subsidiary Prosus which will house the group’s global internet assets including its 31% stake in Tencent, had a bumpy birth. Opting for extra Naspers shares instead, avoids the tax, but leaves them a stock likely to trade at even bigger discounts to its underlying assets because Naspers will become the holding company of a holding company.Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.The world is changing fast and to keep up you need local knowledge with global context.There’s a lot of sense in David’s recommendation of opting for the European-listed shares and paying the tax. However, that blessing became a curse when Tencent's skyrocketing size soon made Naspers too large a company for the relatively small Johannesburg Stock Exchange, making up around 25% of the entire market as of early 2019. That may be why the company is only "dipping its toe" in the sale-and-buyback process at this point.
The final sale was made at 67.50 euros, a discount to where shares were trading at that time, but a bit higher than Prosus' current share price after a week of coronavirus fears.Fortunately, this move does not appear to be a "one and done," as Naspers just recently took another small, yet meaningful action toward closing that wide valuation gap.Naspers does have a pretty good track record of selling at high points. I favour this approach as none of us know where Newco will trade. Kreise: Naspers-Tochter Prosus bei Rennen um Ebay Kleinanzeigen vorn 17.07.2020, 12:41 Uhr dpa-AFX. Er hoffte, dass der Wert der Internetbeteiligungen des Konzerns …
For another, a cash-hungry SA Treasury is sure to soon consider bumping up the tax rate on capital gains. So it seems best to take the pain now. Naspers wound up selling 22 million Prosus shares, which amounted to 1.4% of Prosus' free-float, bringing Naspers' share of the company down from roughly 73.8% to 72.5%. Therefore, Naspers management may feel that Prosus -- and maybe also Naspers stock itself, could be in for a rough ride, despite their already discounted shares.Stock Advisor launched in February of 2002.
For one thing, it will remove the double discount. Im September 2019 brachte Naspers-Chef Bob van Dijk dann Prosus in Amsterdam an die Börse. The offerings are expected to close on 3 August 2020, subject to customary closing conditions.”“It is expected that this financing will be ratings neutral for Prosus,” the company said.Prosus assets comprise its international internet interests outside of South Africa, including operations and investments in online classifieds, food delivery, payments and FinTech, etail, education, and social and internet platforms.The company has made an application to Euronext Dublin to admit the bonds to listing on the Official List of Euronext Dublin and trading on the regulated market thereof.
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