Prosus, Naspers' investment arm, rebounds more than 26% on its first day on the Stock Exchange – Markets and Bags

The share price of Prosus, the investment arm of the South African technology and media company Naspers, skyrocketed 26.6% on its first day at the Amsterdam Stock Exchange. It is an operation for the African company quote in euros and gain visibility among global investors, while seeking to avoid punishment on the South African rand, an emerging currency that has been heavily punished in the last year.

The company and the stock exchange manager had agreed on an initial indicative price of 58.70 euros, which implied a valuation of about 95.3 billion euros. However, after the bell ring the titles of Prosus They have advanced 26.6%, to stand at 74.31 euros. Therefore, the valuation of the company has risen in the first stock minutes until the 119,800 million euros.

"The IPO of Prosus is an exciting step forward for the group that gives direct access to global technology investors to our unique and attractive portfolio," said the CEO of Prosus and Naspers, Bob van Dijk The South African firm is the main shareholder of Tencent, of which it holds 31.1%. He is also a shareholder of Mail.ru, Delivery Hero, Udemy, Codecademy or the Olx classified ad group. The company also owns Letgo

Prosus will be the Euro version of Naspers and will group the international Internet assets of the largest company by value in Africa. Naspers will be the majority shareholder of Prosus, with at least a 73% stake. The remaining participation of the new internet giant in the European stock exchanges will be 'free float, or free shares, in the Amsterdam Stock Exchange. The company, which debuts this Wednesday, September 11, He plans to present his financial results on September 16.

The products and services of companies owned by Prosus are used every day by hundreds of millions of users worldwide. It has brands such as Avito, Brainly, BYJU'S, Codecademy, eMAG, Honor, iFood, LazyPay, letgo, Meesho, Movile, OLX, PayU, Red Dot Payments, Remitly, SimilarWeb, SoloLearn, Swiggy and Udemy. However, its biggest investment is the shares of the Chinese Tencent, owner of Wechat and the world's largest producer of mobile video games. Only 31% in this Chinese technology is worth about 143,000 million dollars, according to the market capitalization of Tencent.