Deals
Naspers CEO Bets on Dutch Listing to Fix Tencent Discount
- Company plans to carve out international internet businesses
- Naspers still needs to show track record of investment success
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Naspers Ltd. Chief Executive Officer Bob van Dijk has been working for years to solve a problem rivals might envy – getting investors to value his South African firm nearer to its $133 billion stake in Tencent Holdings Ltd. A plan for a Dutch listing is his boldest step yet.
By carving out its international internet businesses, including the 31 percent holding in the Chinese tech giant, for a listing on Euronext Amsterdam, van Dijk hopes to tap a bigger pool of capital and shrink a discount that’s been worsened by Naspers’ outsize presence on the Johannesburg Stock Exchange.