SA’s largest public company says it wants to assets on the Euronext Amsterdam exchange, with a secondary listing on the JSE
SA’s largest public company says it wants to list assets on the Euronext Amsterdam exchange, with a secondary listing on the JSEThe JSE is set for a shake-up as SA’s largest public company prepares to list its offshore assets in Europe.
The entity, called NewCo, was likely to be the largest listed consumer internet group in Europe by asset value, Naspers said. Naspers accounts for nearly a quarter of the JSE’s shareholder-weighted index, meaning local investors have been forced to reduce their relative exposure to the company to avoid concentration risk. That partly explains why the group trades at a hefty discount to the value of its portfolio, management has said in the past.
Naspers will continue to directly hold its SA assets — including Takealot and Media24 – alongside its majority stake in NewCo.
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