Naspers, Africa’s largest media group that owns a large stake in Tencent, said it would rehouse its holding in the Chinese internet company and other international investments in a separate European listing.
Johannesburg-listed Naspers said on Monday it would list the vehicle, which would be worth more than $100bn given the value of the Tencent stake, on Euronext Amsterdam no earlier than the second half of this year after obtaining approval from South African regulators.
Naspers is expected to own 75 per cent of the new company following the listing, which will include its stakes in Russia’s Mail.ru and India’s Swiggy, among other global digital and ecommerce businesses.