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The Euronext-listed technology firm will invest in AI across its businesses but will consider writing “larger checks” to companies operating in its ecosystem. India is one of the more attractive growth markets, the company feels.
South Africa’s Prosus NV reported a first-half profit as the technology investor sold stakes in online businesses in China and South Africa. Group adjusted earnings before interest and taxes totalled USD 60 million in the six months through September from a loss a year earlier, the Amsterdam-based company said in a statement. The group sold more than USD 2 billion of assets during the period, including exiting its Trip.com position in China.
The Euronext-listed technology firm will invest in AI across its businesses but will consider writing “larger checks” to companies operating in its ecosystem. India is one of the more attractive growth markets, the company feels.
Prosus was spun out from Cape Town-headquartered Naspers and listed in Amsterdam about five years ago. Through Naspers, the company made a blockbuster investment in Tencent in 2001, when it paid USD 34 million for a 50% stake.
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Today, it owns about a quarter of the company, which has a market value of about USD 480 billion. The group’s investment in the Chinese tech giant has distorted Prosus’s stock price and created a gap between the value of the stake and the rest of the group’s businesses.
