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On 27 June 2022, Naspers and Prosus announced an open-ended share repurchase programme.

Prosus regularly sells small numbers of ordinary shares in Tencent Holdings Limited held by the Group, while concurrently purchasing Prosus N ordinary shares. At the same time, Naspers sells Prosus N ordinary shares and purchases Naspers N ordinary shares.

As of 30 May 2025, the open-ended repurchase programme has returned over US$38bn to shareholders, which increases to close to $50bn when including the repurchases done since 2020. Combined, our repurchase programmes have achieved a 15% NAV accretion per share for Prosus, 18% for Naspers, while 33% of Prosus free float and 36% of Naspers free float has been repurchased.

Through the open-ended share repurchase programme, we are buying back more shares as a % of market cap than any tech company globally
$50bn

Value returned*

1.1B

Prosus & Naspers shares acquired*

33%

of Prosus free-float repurchased*

15%

NAV accretion per share*

* See details on buyback data in the latest financial results presentation.

We will continue to operate the open-ended repurchase programme, within the regulatory limits, specifically the EU Market Abuse Regulation, as long as the discount to net asset value remains elevated.

We are committed to remain a large shareholder in Tencent and are excited about Tencent’s long-term prospects. Our open-ended buyback program increases our per share exposure to Tencent.

Prosus and Naspers intend to cancel their respective repurchased shares, in line with regulatory requirements.

Prosus open-ended share repurchase programme summary

Programme media announcement, June 2022

2021 US$5bn share buyback programme

In August 2021, Prosus commenced an on-market share repurchase programme of Prosus’s ordinary shares N for a total consideration of up to US$5bn from its free-float shareholders in support of delivering the overall benefits of the Prosus voluntary share exchange offer to Naspers Limited N ordinary shareholders completed in August 2021.

The programme commenced in August 2021 and closed in February 2022.

Prosus has cancelled the Ordinary Shares repurchased under this programme.

Details on the August 2021 share repurchase programme can be found in the overview below.

2021 share buyback

2020 US$5bn share buyback programme

The programme was announced on 30 October 2020 and closed on 22 June 2021.

In November 2020, Prosus commenced an on-market repurchase of Naspers and Prosus on a pro-rata (72.5%/27.5%) basis in line with the economic stakes of both companies in the Prosus/Naspers asset base to the value of US$5bn.

Details on the October 2020 share repurchase programme can be found in the overview below:

2020 share buyback