Naspers hopes to list the new group on the Euronext Amsterdam exchange on 17 July. The company also plans on implementing a secondary, inward listing of the new group on the JSE.
“As a global consumer internet group and one of the largest technology investors in the world, the new group is likely to become the largest listed consumer internet company by asset value in Europe,” said Naspers.
The new group will comprise all of Naspers’ internet interests outside of South Africa, including companies and investments in the online classifieds, payments and fintech, food delivery, travel, education, and social and internet platforms sectors.
“The planned listing of our international internet assets on Euronext Amsterdam is progressing well, and we believe that it will present a new and attractive opportunity for global tech investors to access our unique portfolio,” said Naspers CEO Bob van Dijk.
Naspers N shareholders will be issued with newly-created Naspers M Ordinary Shares, which can be exchanged for NewCo shares once the latter is listed. Alternatively, these shareholders can choose to be issued with additional Naspers N Ordinary Shares.