Tencent Holdings Ltd (HK:0700)’s biggest investor, Naspers Ltd (JO:NPNJn) Ltd, is planning to list its internet assets in Europe as a separate company that would hold its $134 billion stakes in the Chinese social media and gaming giant.
The Cape Town-based firm would list the new business in Euronext Amsterdam, according to a company statement.
It would also include Russian internet platform Mail.Ru, German food delivery business Delivery Hero and Indian online food delivery start-up Swiggy.
"The listing will present an appealing new opportunity for international tech investors to have access to our unique portfolio of international internet assets," Naspers CEO Bob van Dijk said in a statement.
Naspers is Africa’s largest company and accounts for about 25% of the Johannesburg Stock Exchange (JSE)’s weighting. The firm is expected to remain as the largest South African company on the JSE following the spin-off.
Tencent’s share prices were little impacted by the news. It is trading at HK$354.4 by 11:00 PM ET (03:00 GMT), up 0.1%.
