Prosus’s €134.4M Power Move: Massive Share Repurchase Signals Confidence and Strategic Commitment

  • Share Repurchase: Prosus recently bought back 4,438,373 of its own shares, spending €134.4 million between November 27 and December 1, 2023.
  • Investor Confidence: The share repurchase reflects Prosus's confidence in its future, signaling a positive outlook and strategic commitment.
  • Global Tech Player: As a major global tech investor, Prosus focuses on building leading consumer internet companies across diverse sectors.
By Lethabo Ntsoane

In a recent update, global consumer internet group Prosus N.V. has disclosed the latest developments in its ongoing open-ended repurchase program for ordinary shares. The program involves shares in both Prosus (“Prosus Shares”) and Naspers (“Naspers Shares”), collectively known as the Group.

Repurchase Program Update

Prosus reported a substantial move in its Repurchase Programme for the period between November 27, 2023, and December 1, 2023. During this timeframe, the company repurchased an impressive 4,438,373 Prosus Shares. The average repurchase price per share stood at €30.2801, resulting in a total consideration of €134,394,317 (US$141,246,929).

Here’s a breakdown of the key figures:

Date RangeNumber of Shares RepurchasedAverage Price per Share (€)Total Consideration (€)Total Consideration (US$)
November 27, 2023 – December 1, 20234,438,37330.2801134,394,317141,246,929

The repurchase program is part of Prosus’s strategy to acquire shares from the Group’s free-float shareholders.

Disclaimer and Forward-Looking Statements

Prosus emphasizes that the Repurchase Programme complies with relevant regulations and involves forward-looking statements. Readers are cautioned that these statements, while based on the best judgment of Prosus as of the announcement date, may be subject to change due to known and unknown risks and uncertainties. Prosus and related parties do not undertake any obligation to update these statements, except as required by law.

The recent share repurchases reflect Prosus’s commitment to its strategic objectives and signal confidence in the company’s future trajectory. Investors and stakeholders are encouraged to stay tuned for further updates on this dynamic market development. For more details, interested parties can visit Prosus’s official news page.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo