It's all systems go for the listing of Naspers' offshoot Prosus on the Amsterdam stock exchange. Given Naspers' huge size - it's larger than Anglo American, Standard Bank, FNB, Vodacom and MTN combined - the importance of this listing can't be understated for SA shareholders. But will the share price take off like a rocket or join the ranks of Uber and Lyft whose listings earlier in 2019 were big disappointments?
Predictions are hard, especially when they concern the future, so the saying goes. But confidence is building that the listing of Naspers' offshoot Prosus in Amsterdam in September could bring some relief to JSE investors who have endured a terrible few years.
By now, SA investors know the story: Naspers will list its international assets, which is more or less everything, on the Amsterdam exchange and hold about 73% of a new company, Prosus. Prosus will - theoretically - help remove the outsized holding company discount to its investments, mainly its 31% holding of Chinese internet powerhouse Tencent. It will be part of a bunch of new developing-market indices, and be available to a host of rich, developed-market investors.
What could possibly go wrong?
Suffice it to say, there...