JOHANNESBURG – South African multinational internet and media group Naspers on Monday announced its intention to list a new global consumer internet group comprising its international internet assets on Euronext Amsterdam.
Naspers said the new company, whose official name will be announced in coming months, would also have a secondary listing on the Johannesburg Stock Exchange.
The new company will comprise all of Naspers’ internet interests outside South Africa, including its companies and investments in online classifieds, food delivery, payments, etail, travel, education and social and internet platforms.
It is tipped to become the largest listed consumer internet group in Europe by asset value, expected to be approximately 75 percent owned by Naspers and have a free float of approximately 25 percent.
Naspers chief executive Bob van Dijk said forming and listing a new global consumer internet group on Euronext Amsterdam was a significant step.
"It will provide a strong platform to attract incremental investor capital, which is well-aligned to our growth goals. The listing will present an appealing new opportunity for international tech investors to have access to our unique portfolio of international internet assets," Dijk said.
"As well as opening up investment to a broader category of investors, the listing aims to reduce our weighting on the Johannesburg Stock Exchange, which we believe will help us maximize shareholder value over time."
The proposed transaction will be subject to requisite regulatory and shareholder approvals being obtained and is currently expected to be implemented no earlier than the second half of 2019.
- African News Agency (ANA), Editing by Stella Mapenzauswa