By Loni Prinsloo, Bloomberg.
Technology investor Prosus NV plans to raise $2 billion (R35.4 billion) through asset sales as part of chief executive officer Fabricio Bloisi’s plans to streamline the company around key brands.
The Euronext-listed company has already raised $780 million from selling various holdings in the past four months, setting $2 billion as a near-term target, Bloisi said during the company’s annual general meeting on Wednesday.
It has been selling down a mix of listed equities, and part of its stake in Chinese food-delivery app Meituan, Bloomberg previously reported, citing people familiar with the matter.
Bloisi has been trimming the company’s vast portfolio to give the investor more control over a smaller set of assets. Amsterdam-based Prosus, a subsidiary of South Africa’s Naspers, wants to evolve from primarily investing in tech to building out lifestyle e-commerce platforms with a focus on Latin America, Europe and India.
Prosus received the go ahead from European competition authorities to acquire Dutch delivery company Just Eat Takeaway.com, in exchange for selling down its 27% holding in German rival Delivery Hero. Bloisi said early completion of the deal could boost Prosus’s revenue to as much as $9.6 billion for its 2026 financial year, compared with $6.2 billion in 2025.
Prosus reported a profit for the first time under Bloisi’s new strategy, which is focused on doubling the group’s market value by mid-2028. Shares are up 65% over the past year, valuing the company at around $181 billion.
Prosus expects three Indian portfolio companies — Meesho, Captain Fresh and Urban Company — to go public during the next 12 months.
The company is working to reduce the impacts of its early investment in China’s Tencent Holdings through its parent Naspers. The value of the stake grew so quickly that it distorted Prosus’s stock price and created a gap with its other businesses.
As a remedy, Prosus has undertaken the biggest buyback program of any tech company globally, selling down the Tencent stake to buy its own shares. This has helped reduce the value gap by $13 billion, along with greater profitability in its e-commerce businesses.