PROSY Stock Recent News

Prosus stock soared after announcing an open-ended buyback program to close the discount to NAV. The discount gap already narrowed from 61% to a 44% discount to NAV.

Shares of holding company Prosus PRX, +14.74% surged 15% in Amsterdam trade after announcing a stock buyback program funded by the sale of Tencent 700, -1.56% shares and saying it sold its entire JD.com JD, +3.41% stake for $3.7 billion. Prosus and parent Naspers say that if the stock buyback plan had been in existence over the past three months, the resulting Tencent shares would averaged between 3% and 5% of average daily traded volumes.

Dutch technology investor Prosus NV on Monday announced it will gradually sell down its massive stake in Tencent, reversing a pledge to retain the holding for a couple of years and knocking shares in the Chinese tech giant.

Shares of Tencent Holdings Ltd gave up morning gains to fall as much as 2.5% to HK$374.60 in the early afternoon, after Prosus and Napsers said they would gradually sell shares.

Coinbase has hired Arnab Kumar, former executive at Prosus Ventures, in the latest push to relaunch its eponymous cryptocurrency exchange in India. Kumar, who has previously also worked at influential think tank Niti Aayog and Deutsche Bank, is joining the exchange as director of India market expansion, a spokesperson said in an email.

Prosus has continued to underperform Tencent's stock, its largest holding. The discount to NAV has continued to increase at a magnificent pace.

Amsterdam-based Prosus NV, the owner of Russian online marketplace Avito, said on Tuesday it has taken steps to remove "a small number" of advertisements for jobs in the Russian military that had made it onto Avito's listings.

The MENA region has about 400 million people with $500 billion in annual savings. But as a relatively young population, most of them have minimal equity market and investment exposure.

Prosus is a holding that is investing in high-growth markets like online food delivery, fintech, and classifieds. If the company is successful in bringing groceries to clients, the target market will most likely significantly increase.

The chief executive of Prosus NV, Bob van Dijk, has purchased about $10 million of the company's shares on the open market, the company said on Friday in a statement.