Naspers, which started out as an Afrikaans newspaper group a century ago, has since gone on to invest in a host of startups, mostly in emerging markets. The runaway success of Tencent has created an enviable headache: Naspers has become too big for the Johannesburg stock exchange, where it now makes up a quarter of the local index. Such scale requires foreign investors, not all of whom are keen on South Africa’s currency and political risk. Amsterdam, where Naspers already has staff, has similar listing requirements to Johannesburg.
Source: Naspers plans to spin off its Tencent stake and other holdings
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