Palantir a high-risk investment with ’a one-of-a-kind growth and margin model’
AMSTERDAM - Prosus (OTC:PROSF) N.V., the global technology investor, has reported the latest transactions in its ongoing share repurchase program. Between Monday and Friday last week, the company acquired 8,203,244 of its own shares at an average price of €44.2738 per share, amounting to a total expenditure of approximately $394.9 million.
The repurchase program, which was initially announced on June 27, 2022, is part of Prosus’s strategy to buy back both Prosus and Naspers ordinary shares from the open market. The buybacks are conducted within the regulatory framework set by the European Union’s Market Abuse Regulation and the accompanying Delegated Regulation.
As a global tech company, Prosus focuses on fostering an AI-first world, with significant investments in over 100 companies worldwide. The company has a strong presence in high-growth markets, particularly in sectors such as food delivery, classifieds, and fintech. Prosus is known for building a technology ecosystem that promotes innovation and growth across its portfolio.
The repurchase program aligns with Prosus’s commitment to driving shareholder value and is being executed in accordance with applicable regulations. The company’s investment arm, Prosus Ventures, continues to seek new opportunities in technology sectors including AI, e-commerce, fintech, B2B software, and beyond.
This latest transaction is part of a broader repurchase initiative, the details of which are available on the company’s investor relations website. Prosus has not provided specific details on the intended duration or the total size of the repurchase program, which remains open-ended.
The market has been informed about these transactions in line with the company’s commitment to transparency and regulatory compliance. Prosus’s actions reflect its ongoing efforts to manage capital allocation effectively while investing in areas that promise long-term growth and innovation.
This update is based on a press release statement from Prosus N.V., and no further information was disclosed regarding future repurchase plans or the potential impact on the company’s financial position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.