TCEHY - Prosus Makes Its Big Move With Tencent Sale: 4 Things It Can Do With Its Billions
One of the more intriguing international stocks is Prosus (OTC: PROSY) , the European technology holding company spun out of South African media giant Naspers (OTC: NPSNY) in 2019. Best known for its famous investment in Tencent (OTC: TCEHY) back in 2001, Naspers/Prosus still retains a huge stake in the internet giant, making Naspers the biggest company in South Africa by a wide margin, and prompting the spinout of Prosus to European exchanges.
Despite having several other impressive business holdings under its corporate umbrella, Prosus/Naspers has long traded at a discount to the value of its Tencent stake alone, which still accounts for an overwhelming portion of Prosus' value.
But Prosus is gradually attempting to diversify. On Wednesday, it announced it would be cashing in billions of its Tencent winnings to "invest in growth" and for "general corporate purposes."
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Prosus Makes Its Big Move With Tencent Sale: 4 Things It Can Do With Its Billions