Prosus Buys Back 3.2 Million Shares for €110 Million

  • rosus announces update on open-ended repurchase program for ordinary shares in Prosus and Naspers.
  • Repurchased 3,225,887 Prosus shares at an average price of €34.1107 per share.
  • Program adheres to EU market abuse regulations, focusing on long-term growth sectors globally.

Prosus N.V., a global consumer internet group and major technology investor, has announced an update to its share repurchase program.

Repurchase Details

Prosus has revealed details of its recent share buybacks. Between June 10, 2024, and June 14, 2024, the company repurchased 3,225,887 shares at an average price of €34.1107 per share. The total cost for this repurchase amounted to €110,037,343, which is approximately $118,304,332.

PeriodShares RepurchasedAverage Price per Share (€)Total Consideration (€)
June 10-14, 20243,225,88734.1107110,037,343

Program Overview

The share repurchase program began on June 27, 2022. The program targets the ordinary shares N of Prosus and Naspers, from their respective free-float shareholders.

Regulatory Compliance

The repurchase program adheres to Articles 5(1) and 5(3) of Regulation (EU) No 596/2014 on market abuse. It also complies with Articles 2 to 4 of Commission Delegated Regulation (EU) 2016/1052.

Company Background

Prosus is one of the largest technology investors globally. It operates and invests in markets with long-term growth potential. Prosus builds leading consumer internet companies that empower people and enrich communities.

Key Sectors and Investments

Prosus focuses on four main sectors: online classifieds, food delivery, payments and fintech, and education technology. These sectors are primarily in India and Brazil. Prosus also invests in health, logistics, blockchain, and social commerce through its ventures team.

SectorExamples of Investments
Online ClassifiedsOLX, AutoTrader,
Food DeliveryiFood, Swiggy
Payments & FintechPayU, Red Dot Payment, PaySense
EdtechBYJU’S, Codecademy, Platzi
VenturesBrainly, BUX, Sharebite, SoloLearn, watchTowr, Wayflyer

Global Reach

Prosus has a significant global footprint. Billions of customers use the products and services of companies that Prosus has invested in, acquired, or built. Some prominent names include BYJU’S, Codecademy, Brainly, Swiggy, and iFood.

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