Prosus/Naspers, is there value in the NAV? (#484)
WorldWide Markets with Simon Brown · JustOneLap.com
March 9, 202219m 52s
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Show Notes
Simon Shares
- Shoprite* (JSE code: SHP) results, it's all about innovation.
- Strong un International* (JSE code: SUI) update.
- War in Europe, commodities still the story. Very volatile, that's expected. But I expect more upside and I am happy to hold.
Tencent has been under pressure
Naspers and Prosus have been hit even harder
Live Prosus discount to net asset value (NAV) is now some 55% after hitting 60%.
VK (old mail.ru) has been written down to zero.
Generally unlisted is worth a lot less than stated?
Buy / Sell / Hold?- VIE structure
- China has not taken sides in the war, so far
- Tax on profits if they sell Tencent
- More Chinese crackdowns?
- Prosus has been wasting money from the sale of 2% stake in Tencent?
- Buying back shares
- Buying Delivery Hero (Frankfurt code: DHER)