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Europe Gets a New Technology Giant When Naspers Returns by Prosus by Investing.com



© Reuters.

Investing.com – The European stock markets gained a new Internet giant on Wednesday, and when it was adopted, it just highlighted how few alternatives regional investors have when it comes to growth stocks.

The largest company that absolutely no one has ever heard of is called Prosus (AS :). It is a holding company for the international assets of the Internet of the South African investment company Naspers (JO :).

More than anything, this is a 31

% stake in Naspers in Tencent Holdings (HK :), the Chinese social media and gaming giant whose value has accumulated from $ 31 million in 2001 to $ 130 billion today. But it also has stakes in food payment and delivery companies, notably Delivery Hero (BE 🙂 and Takeaway.com, as well as other social media assets such as Russia Mail.ru (LON 🙂 and online markets such as OLX group. [19659004] Last year, it made a net profit of $ 4.25 billion, largely due to a profit of $ 1.6 billion from the sale of its stake in Walmart's (NYSE 🙂 Indian Flipkart Stores. Even after this discard, the company is easily the largest consumer internet company listed in Europe.

The company estimates that the products and services of its portfolio companies are used regularly by about one fifth of the world's population. The list "will allow international technology investors to invest directly in attractive online portfolios," Naspers says in a video on his website detailing the transaction.

Naspers issued shares worth approximately 25% in the new company to all its shareholders before the listing. Euronext Amsterdam has an estimated price of € 58.70 per share, suggesting a market value of € 95.3 billion ($ 105 billion).

However, Reuters reported that the shares jumped to 76 euros at opening and only relinquished part of those gains in subsequent trading. This immediately made it the third largest stock market in Amsterdam at market value, after Royal Dutch Shell (LON 🙂 and Unilever (LON :).

The list appeared on a day when markets in Europe made broad progress on fresh hopes of disrupting China-US trade Earlier in the day, China released a list of products to be released from its latest tariffs for imports from the United States, including anti-cancer drugs and base oil for lubrication, but not far more sensitive and economically important agricultural products such as soy and pork.

By 5 AM ET (0900) the benchmark had increased by 0.7% at 389.08, with a maximum of six weeks. Germany and the United Kingdom have increased 1.0%

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