South Africa's Naspers shares fall more than 30% after Prosus market debut
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Bob van Dijk, CEO of Naspers and Prosus Group poses at Amsterdam's stock exchange, as Prosus begins trading on the Euronext stock exchange in Amsterdam, Netherlands, September 11, 2019. REUTERS/Piroschka van de Wouw
JOHANNESBURG (Reuters) - Shares in South Africa’s e-commerce giant Naspers (NPNJn.J) tumbled more than 30% on Wednesday following the market debut of its spin-off Prosus (PRX.AS) in Amsterdam.
Prosus comprises Naspers’ global empire of consumer internet assets, with the jewel in the crown a 31% stake in Chinese tech titan Tencent (0700.HK).
Naspers shares were down 31.02% at 2,428 rand by 1021 GMT.
Reporting by Onke Ngcuka, editing by Louise Heavens