Prosus N.V., a global consumer internet group and one of the largest technology investors in the world, has announced an update on its open-ended repurchase programme. The programme, which covers ordinary shares in Prosus as well as Naspers, aims to enhance shareholder value by repurchasing shares from free-float shareholders.
Key Figures
During the period from February 26 to March 1, 2024, Prosus repurchased a total of 3,804,685 Prosus shares. These repurchases were made at an average price of €27.3658 per share, amounting to a total consideration of €104,118,424 (approximately US$112.8 million).
Table: Summary of Repurchase
| Period | Number of Shares Repurchased | Average Price per Share (€) | Total Consideration (€) |
|---|---|---|---|
| Feb 26 – Mar 1, 2024 | 3,804,685 | €27.3658 | €104,118,424 |
Purpose and Impact
The repurchase programme is part of Prosus’s strategy to optimize its capital structure and enhance shareholder returns. By repurchasing shares at what management deems to be attractive prices, the company aims to signal confidence in its future prospects and generate value for shareholders.
Conclusion
The recent repurchase of over 3.8 million shares underscores Prosus’s confidence in its business and its commitment to delivering value to shareholders. With a focus on strategic investments and prudent capital management, Prosus aims to navigate through challenges and capitalize on growth opportunities in the dynamic technology landscape.
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