This evaluation made possible the portfolio that Naspers had transferred to Prosus before the IPO. The most important asset is the 31% stake in the Chinese Internet giant Tencent. In addition, Prosus holds 22.2% in Delivery Hero, 28% in Mail.Ru and share packages in around 40 internet and technology companies. Naspers, in our PLATOW EM sample depot since May, is still the majority shareholder in Prosus with 73%.
Shortly after the IPO, Prosus entered the takeover battle for the British food delivery service Just-Eat, but was defeated by the Dutch takeaway. Since then, Prosus has always been mentioned as a potential buyer of tech companies that may be for sale. This did not protect the share (EUR 79.60; NL0013654783) in the Corona crash from a setback to the record low of EUR 46.75.
However, the countermovement quickly followed, as it turned out that Internet companies with an information and entertainment character, as well as food delivery services, were the winners of the exit restrictions. With the market recovery, the Prosus share therefore climbed to a record high of EUR 84.08 at Euronext. Speculations helped that the greatly increased market capitalization could be sufficient to allow the technology holding company to rise to the EuroStoxx 50 on June 22.
Until recently, it had looked like a “fast entry” was possible thanks to a place in the top 25 in free float market capitalization. But even small profit taking prevented this. The ascent will succeed in the regular review in September, when the criteria (including trade liquidity) are easier to meet. So u. a. Index funds buy the title, but it will also benefit from the potential of its holdings.
Join Prosus. Stop: 62.50 euros.
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