Naspers to list consumer internet business on Euronext

South African media and technology group, Naspers announced its intention to float its consumer internet businesses on the Euronext stock exchange in Amsterdam on July 17.

Naspers will retain a 73% stake in the new company, which will have a market capitalisation in excess of $112 billion and hold Naspers’ one-third stake in China’s Tencent, as well as its OLX and “letgo” classified businesses.

Existing Naspers shareholders will receive shares representing 27% of the new company when it lists, Naspers said in a statement.

South African media and technology group, Naspers announced its intention to float its consumer internet businesses on the Euronext stock exchange in Amsterdam on July 17.

Naspers will retain a 73% stake in the new company, which will have a market capitalisation in excess of $112 billion and hold Naspers’ one-third stake in China’s Tencent, as well as its OLX and “letgo” classified businesses.

Existing Naspers shareholders will receive shares representing 27% of the new company when it lists, Naspers said in a statement.