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| Name | Symbol | Market | Type |
|---|---|---|---|
| Naspers Ltd (PK) | USOTC:NPSNY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.932 | -2.15% | 42.50 | 42.23 | 43.31 | 43.25 | 42.41 | 43.20 | 31,926 | 21:00:53 |
From May 2019 to May 2024
By Adria Calatayud
South African investor Naspers Ltd. and its Prosus NV subsidiary said Wednesday that they plan to launch a voluntary offer under which Naspers shareholders will be entitled to exchange ordinary shares for newly issued shares in Prosus.
The proposed transaction is expected to more than double the Prosus free float to 59.7% and create value for Naspers and Prosus shareholders, the companies said.
Prosus, which houses Naspers's international assets, was spun out of the South African group and listed in Amsterdam in 2019.
Prosus will acquire up to a maximum of 45.4% of the issued Naspers N ordinary shares which, together with shares already held, will give it an economic interest of no more than 49.5%, the companies said.
If the offer is taken up in full by Naspers shareholders, Naspers' holding in Prosus will be reduced to 57.2% from 73.2%. The offer is expected to be implemented in the third quarter of 2021.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
May 12, 2021 02:28 ET (06:28 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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