bullish
Prosus (PRX-NA): Profitable Growth, Elevated Discount
Wium has highlighted this Insight as a Top Pick
327 Views24 Jul 2024 09:00
SUMMARY
- The removal of their cross-holding structure has had a negligible effect on the respective discounts to NAV for Prosus NV (PRX NA) and Naspers (NPN SJ).
- We have seen a remarkable turnaround in Prosus’s operating performance during FY2024 and the market will focus on whether the new CEO can achieve his ambitions for “profitable growth”.
- The open-ended share repurchase program will continue as long as the discount remains “elevated”.
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