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AMSTERDAM - Prosus (OTC:PROSF) NV, the global technology investor, has completed a significant share repurchase, buying back 4,700,875 of its own shares at an average price of €43.4370 per share, amounting to a total consideration of approximately $220.56 million. This repurchase forms part of an ongoing program that the company first announced on June 27, 2022.
The repurchase took place over the course of the previous week, from Monday through Friday. The program is aimed at Prosus and Naspers ordinary shares from the free-float shareholders of both entities, collectively referred to as the Group.
Prosus’s repurchase initiative is in line with the Market Abuse Regulation (EU No 596/2014) and the Commission Delegated Regulation (EU 2016/1052), which set forth the regulatory technical standards for buy-back programs and stabilization measures.
The company, incorporated in the Netherlands, has a diverse portfolio with investments in over 100 companies worldwide. Prosus focuses on building local e-commerce champions in growth markets and has established leading positions in sectors such as food delivery, classifieds, and fintech. The company also actively invests in new technology growth opportunities through its Prosus Ventures team, supporting entrepreneurs in sectors like AI, social and e-commerce platforms, fintech, B2B software, logistics, health, blockchain, and agriculture.
Prosus’s repurchase program is a reflection of its commitment to driving innovation and growth across its portfolio. The company’s strategic investments aim to unlock an AI-first world for its 2 billion customers, fostering technology ecosystems that enhance everyday life.
This latest financial maneuver is based on a press release statement issued by Prosus NV and does not constitute an offer of securities in any jurisdiction. It is important to note that forward-looking statements contained in the press release involve risks and uncertainties, and actual results may differ from those projected. As of now, Prosus has not provided any further details on subsequent repurchase activities or updates on its investment strategy following this announcement.
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