Investing.com – European stock markets received a new internet giants on Wednesday, and the response has only highlighted how few alternatives regional investors have in terms of growth stocks.
The largest company that absolutely no one had ever heard is called Prosus (AS :). It is a holding company for the international Internet assets of South African investment firm Naspers (JO :).
Above all, it is a vehicle for Naspers' 31
The products and services of its portfolio companies are regularly used by about one fifth of the world's population. The listing "offers international tech investors the opportunity to invest directly in an attractive Internet portfolio," said Naspers in a video on his website detailing the transaction.
Naspers issued to all shareholders shares worth approximately 25% of the new company prior to listing. Euronext Amsterdam had indicated an indicative price of € 58.70 per share, which meant a market value of € 95.3 billion ($ 105 billion).
However, Reuters reported that the stock had risen to € 76 at opening and had only made a fraction of these gains in subsequent trading. Thus, it was immediately the third largest share on the Amsterdam Stock Exchange in terms of market value, after Royal Dutch Shell (LON 🙂 and Unilever (LON :).
Listing on a day when European markets arrived China made wide strides in terms of new hopes for easing trade between China and the US. Earlier in the day, China had published a list of products to be exempted from the most recent US import tariffs, including cancer drugs and lubricating base oil, not the much more sensitive and economically important agricultural products, such as soybeans and pork.
At 5:00 CET (09:00 CET), the benchmark benchmark rose 0.7% to 389.08, a six-week high. Germany and the UK both gained 1.0%.
Fusion Media or a person affiliated with Fusion Media assumes no responsibility for any loss or damage in the information contained on this site including data, quotations, graphics and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading on the financial markets. This is one of the riskiest possible forms of investment.