Prosus NV : A share buyback programme to support the share whilst the discount remains “unacceptable”
>Outperform recommendation reiterated - Target price of € 90 (vs € 105) - Prosus yesterday held a conference call following its FY 2022 earnings release. The share price gained 16% yesterday following the announcement of the sale of Tencent shares and share buybacks by Prosus, strongly reducing the discount as Tencent's share price was also down. This was therefore down from ~46% to 29% on our calculations. Our valuation stands at € 90/share revealing upside of 47% on...Prosus NV Formerly known as Myriad International Holdings NV. Prosus NV, formerly Myriad International Holdings NV, is a Netherland-based global consumer Internet group. The Company is organized into six business areas: Classifieds, Payments & Fintech, Food delivery, Etail, Ventures and Travel. It also holds investments in listed Social & Internet assets. The Classifieds business area manages mobile and digital marketplaces. The Payments & Fintech business area includes PayU, a Payment Service Platform. The Food delivery business area manages food delivery companies. The Travel business area operates a travel online platform. The Etail business area includes business to consumer e-commerce companies. The Venture business area looks for and invests in early stage companies.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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