Group structure

Prosus listed on the Euronext Amsterdam in September 2019 and is the largest consumer internet company in Europe by asset value.

As a holding group, we operate and invest in more than 100 local markets across the world, building leading consumer internet companies that collectively serve over two billion customers.

We are particularly focused on investing in high-growth markets, and we have significant interests in China, India, Latin America and Central and Eastern Europe. Our geographic footprint is truly global, with interests in many other markets.

Prosus was formed to house the international internet assets of Naspers, a Johannesburg Stock Exchange listed global consumer internet company. Prosus listed on the Euronext Amsterdam in September 2019, with a secondary, inward listing on the Johannesburg Stock Exchange in South Africa. Naspers is the majority owner of Prosus.

On 16 August 2021, a voluntary share exchange offer by Prosus to Naspers N shareholders was implemented, where holders of Naspers N ordinary shares could exchange these shares for Prosus ordinary shares N, at an exchange ratio of 2.27443 new Prosus ordinary shares N for each Naspers ordinary share N tendered.

On 27 June 2022, Prosus and Naspers announced the start of an open-ended share repurchase programme of Prosus and Naspers shares, funded by the regular selling of small numbers of Tencent shares. The programme is designed to efficiently unlock immediate value for shareholders and increase net asset value (NAV) per share over time. The programme will be active as long as the discount to NAV is at elevated levels.

In 2021, Naspers and Prosus entered into a cross-holding agreement to regulate their relationship following Prosus’s acquisition of around 52.46% economic interest in Naspers’s listed shares to give shareholders certainty that the full extent of Prosus free-float shareholders’ effective economic interest in the underlying Prosus portfolio in distributions will be paid directly and efficiently at the Prosus level.  

Following shareholder approval in September 2023, we removed the cross-holding of shares between Prosus and Naspers. Removal of the cross-holding ensures the continuation of the open-ended share repurchase program, meaningfully simplifies our corporate structure and preserves the benefits gained from the listing of Prosus and from the share exchange transaction.

For more information, click the below media releases.

Announcement of the intended removal of the cross-holding

Announcement of the removal of the cross-holding