12
May
2021
|
07:53
Europe/Amsterdam

Prosus announces voluntary offer to acquire 45.4% of Naspers shares

Prosus N.V. (Prosus) today announced its intention to implement a voluntary share exchange offer to Naspers shareholders, where Naspers shareholders will be invited to tender their existing Naspers N Ordinary Shares for newly issued Prosus Ordinary Shares N.

The proposed transaction is expected to create immediate and longer term value for Naspers and Prosus shareholders. On completion, it is expected to more than double the Prosus free float’s effective economic interest in the group’s underlying assets, improving the stock’s liquidity, and place Prosus in the Top 20 of EURO STOXX 50 Index companies, improving its market index weightings. As well as enhancing Prosus’s overall trading dynamics, the move is intended to sustainably right-size Naspers on the JSE, providing sufficient head room for the group’s long-term growth. Naspers will remain domiciled in South Africa and is expected to remain the JSE’s largest listed company; Prosus will retain its secondary listing on the JSE.

For full details about the proposed transaction, which is subject to the requisite approvals, please visit the transaction microsite www.share-exchange-offer.com.

This communication is for information purposes only and is not an offer to sell or the solicitation of an offer to buy securities, and neither this communication nor anything herein nor any copy thereof may be taken into or distributed, directly or indirectly, in or into any jurisdiction in which to do so would be prohibited by applicable law.

There will be no public offer of any securities in the United States. The securities referred to in this communication have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and will not be offered or sold, directly or indirectly, in or into the United States or to, or for the account or benefit of, any “U.S. person” as defined in Regulation S under the Securities Act except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

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About Prosus:

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities. 

The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors in markets including India, Russia, and Brazil. Through its ventures team, Prosus invests in areas including health, logistics, blockchain, and social commerce. Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to improve people’s everyday lives.

Every day, millions of people use the products and services of companies that Prosus has invested in, acquired or built, including Avito, BrainlyBUX, BYJU'S, Bykea, Codecademy, DappRadar, DeHaat, dott, ElasticRun, eMAG, Eruditus, Honor, iFood, Klar, LazyPay, letgo, Meesho, Movile, OLX, PayU, Quick Ride, Red Dot Payment, Remitly, Republic, Shipper, SimilarWeb, Skillsoft, SoloLearn, Swiggy and Udemy.

Hundreds of millions of people have made the platforms of Prosus’s associates a part of their daily lives. For listed companies where we have an interest, please see: Tencent, Mail.ru, Trip.com Group Limited, and DeliveryHero.

Today, Prosus companies and associates help improve the lives of around a fifth of the world's population. 

Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and secondary listings on the Johannesburg Stock Exchange (XJSE:PRX) and a2X Markets (PRX.AJ). Prosus is majority-owned by Naspers.

For more information, please visit www.prosus.com.