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To tender or not to tender - Naspers shareholders will need to decide over the next weeks. Many shareholders of Naspers outright hate the deal. Even Prosus' shareholders seem to be unsure about its merits. An analysis of the consequences of success and failure of the exchange ...
Prosus (PROSY -4.4%) has announced a refinancing via cash tender offer for any and all of its 5.5% notes due 2025 and 4.85% notes due 2027. There are $1.2B outstanding of the 2025 notes, and $1B outstanding 2027 notes. Securities that it purchases in the offer will be retired and canceled. Pr...
Naspers ADR (NPSNY): FY core headline earnings up 15% Y/Y to $3.5BRevenue of $29.6B (+32.0% Y/Y)."For the first time, we are confirming an independent valuation of our Ecommerce portfolio of US$39bn. This is almost double the valuation of a year ago and it has delivered an annual return in ex...
Prosus (PROSY +0.7%), one of the biggest investors in Tencent Holdings (TCEHY -0.2%), is seemingly redirecting part of its Tencent stake into online tech learning via a $1.8B deal for developer community Stack Overflow. It's one of the biggest acquisitions for Prosus, a holding of Naspers (NP...
Management presents the exchange offer as a good deal for both sets of shareholders. But actually it is contradicting itself. Instead of choosing one of many simple options, it acts like a clown car in a gold mine. Here is why I think Naspers shareholders should reject the transac...
On March 23, 2021, the S&P 500 recorded its largest one-year price increase in the past 85 years, 75%. And just a few days earlier, on March 18, the Oakmark Fund recorded its largest ever one-year increase of 113%. Following a painful four years for value investors, we’ve f...
Alphyn Capital Management, LLC is a registered investment advisor focussed on a) great public companies that have the power to endure, with long runways to grow through reinvesting cash flows at high rates of return, run by talented and aligned operators and b) the occasional special situ...
Economic data releases for China reaffirmed the recovery is on track, leading the forecast of China's GDP based on PPP to jump above a one-fifth share of the world. The massive block trade of Tencent shares brought Mainland bargain hunters out in force, supported by several less obvio...
EZA gives U.S. investors the chance to invest directly in South African equities through a U.S.-listed, USD-denominated ETF. Unfortunately, South African equities look expensive. While the USD/ZAR exchange rate is probably significantly overvalued, there is still the risk that ZAR rem...
Prosus is one of the biggest companies in Europe. The company is trading at a huge discount to NAV. There are some major risks to consider. For further details see: Prosus Trading At A Huge Discount To NAV
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Naspers Limited ( Naspers ) (JSE: NPN, LSE: NPSN) The 109 th annual general meeting ( AGM ) of the shareholders of Naspers was held through electronic communication today. Shareholders are advised that all resolutions set out in the notice of the AGM were passed by the requisite m...
Distribution of notice of the virtual annual general meeting Naspers (JSE:NPN) shareholders ( Shareholders ) are advised that notice is hereby given, in terms of the notice of annual general meeting posted to Shareholders today, on Wednesday, 26 July 2023 ( Notice of Annual ...
1. PROSUS CIRCULAR AND ANNUAL GENERAL MEETING Naspers Limited ("Naspers") (JSE: NPN): Naspers shareholders ( Shareholders ) are referred to the joint announcement published by Naspers and Prosus N.V. ( Prosus ) on 27 June 2023 (the Transaction Announcement ) regarding Naspers'...