Tag: primary listing

SA investors taking up stock in Prosus when it lists next month may be liable for capital gains tax. Naspers has cautioned investors on the tax implications ahead of next month's listing of its international assets in Amsterdam.

Naspers says the top 10 consumer internet giant will have an estimated market capitalisation of $100 billion on day one. Naspers says Prosus will have a market capitalisation of about $100 billion when it lists the business housing its international internet businesses on Euronext Amsterdam next month. Releasing its prospectus ahead of the 11 September flotation, the group said its international assets, currently housed in Myriad International, made it one of the top 10 largest consumer interest groups in the world, with businesses and investments serving more than 1.5 billion people in 89 markets. It claims to be market leader in 77 of those.

The internet giant aims to list its international internet assets on Euronext Amsterdam on 11 September. Naspers shareholders get to vote next month on the internet giant’s plan to list its international business on the Euronext Amsterdam stock exchange. It posted a circular to shareholders on Friday convening a general meeting for 23 August.

The JSE has published for comment proposed amendments to its Listings Requirements to strengthen the regulation of primary listings and secondary listings. The proposed changes take account of the public comments raised during the consultation process that kicked off in September 2018 after the JSE released a consultation paper (Paper) on 'possible regulatory responses to recent events surrounding listed issuers and trading in their shares'.