Naspers, Prosus Expect Fiscal Year 2021 EPS to Soar; Back Shareholder Exchange
10 Junho 2021 - 1:43PM
Dow Jones News
By Matteo Castia
Naspers Ltd. and subsidiary Prosus NV said Thursday that each
expect a sharp rise in earnings per share for fiscal 2021, and that
both recommend their shareholders proceed with the previously
announced voluntary share exchange offer between the two
companies.
Naspers--a South African newspaper publisher turned technology
giant and Africa's most valuable listed company--said it expects
earnings per share for the year ended March 31 to rise between 70%
and 77% year-on-year, or by 500 cents and 550 cents. EPS in fiscal
2020 came in at 718 cents.
"While navigating a global pandemic, the group benefited from
its global perspective and diversified operations and executed on
many key strategic initiatives that position it very well for
continued long-term growth and value creation," Naspers said.
Dutch internet conglomerate Prosus said in a separate release
that it expects EPS for the same period to rise between 92% and 99%
on the year, or by 216 cents and 232 cents. EPS in fiscal 2020 came
in at 235 cents.
Naspers and Prosus also said they deem the previously announced
voluntary share exchange offer to be in the best interest of both
companies' shareholders.
"It could provide significant value unlock for Prosus and
Naspers shareholders. It will increase the Prosus free float
materially, with expected growth in its overall trading liquidity,
market index weightings and positive trading dynamics," they
said.
On May 12, Naspers and Prosus said they were planning to launch
a voluntary offer under which Naspers shareholders would be
entitled to exchange ordinary shares for newly issued shares in
Prosus.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
June 10, 2021 12:29 ET (16:29 GMT)
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