South Africa’s Naspers set to create Europe’s largest listed internet group

South Africa’s Naspers is listing Tencent and all its non-South African internet assets on the Amsterdam stock exchange, making it Europe’s largest listed consumer internet group by asset value, the company announced on Monday.

Naspers, which has a primary listing on the Johannesburg stock exchange, will list on Euronext Amsterdam. The businesses include its 31% stake in Chinese giant, Tencent, Russian internet platform, Mail.Ru and German food delivery business, Delivery Hero.

The new company, NewCo, will be 75% owned by Naspers, with the rest a free float. “Forming and listing a new global consumer internet group on Euronext Amsterdam is a significant step for Naspers”, chief executive Bob van Dijk said in a statement. “It will provide a strong platform to attract incremental investor capital, which is well-aligned to our growth goals”.