Table of Contents
Key Points
- Prosus aims to raise $2 billion from asset sales, with $780 million already secured from trimming stakes in Meituan and other equities.
- Revenue could climb to $9.6 billion in fiscal 2026 as Prosus shifts focus to e-commerce and lifestyle platforms under CEO Fabricio Bloisi.
- Tencent stake sales funded a record buyback, cutting the internet group's valuation discount by $13 billion and boosting its $181 billion market value.
Prosus N.V., the global internet group chaired by South African billionaire Koos Bekker, plans to raise $2 billion (R35.4 billion) through asset sales as part of chief executive Fabricio Bloisi’s effort to sharpen the company’s focus.
The Amsterdam-based firm, majority-owned by South Africa’s Naspers, has already secured $780 million from disposals in the past four months, including trimming stakes in Chinese food-delivery giant Meituan and other listed equities. At its annual general meeting, Prosus told investors that the $2 billion goal is a near-term target rather than a long-term cap.
Shifting from investor to operator
Bloisi is steering Prosus toward a leaner model, concentrating resources on e-commerce and lifestyle platforms in Latin America, Europe, and India. The company recently won EU approval to buy Dutch delivery group Just Eat Takeaway. com, provided it cuts its 27 percent holding in German rival Delivery Hero.
If completed ahead of schedule, the deal could lift the internet group's revenue to $9.6 billion in fiscal 2026, up from $6.2 billion projected for 2025. The strategy has already delivered early signs of progress: Prosus posted its first annual profit under Bloisi, while shares climbed 65 percent in the past year, giving the group a market value of about $181 billion.
IPO pipeline and Tencent stake
Three Indian portfolio companies — Meesho, Captain Fresh, and Urban Company — are expected to go public within the next year, underscoring the internet group’s confidence in India as a growth engine. At the same time, the group continues to manage its significant stake in Tencent Holdings, which has long been the biggest driver of its valuation swings.
To limit that reliance, Prosus launched the world’s largest tech buyback program, selling down Tencent shares to repurchase its own stock. That effort reduced the discount in the company's valuation by $13 billion while strengthening its balance sheet.
Bekker’s role in shaping strategy
Since its founding in 1997, Prosus has become one of the world’s largest tech investors, with holdings in fintech, digital media, online education, and e-commerce. Bekker, who owns just under 1 percent of the group, a stake worth nearly $965 million, remains an influential voice in its strategy.
For fiscal 2025, Prosus reported net profit of $12.37 billion, almost double the $6.59 billion recorded a year earlier. Revenue reached $6.17 billion, with the company aiming to double that to $12.5 billion by 2028.
Recent activity has included extending its $4.73 billion cash offer for Just Eat Takeaway to Oct. 1, buying back $196 million in shares in February, and selling $743 million in Trip.com stock last September. Each move reflects the internet group's focus on streamlining its global operations while unlocking value for shareholders.
