Prosus NV : FY 2022-23 results: simplification of the capital structure and further share buybacks
>Outperform rating reiterated - Prosus yesterday reported annual results that beat our expectations and held a conference call. The main takeaway is that the group announced a transaction to eliminate complexity with the removal of the cross-holding structure between Prosus and Naspers (49% owned by Prosus). This will involve two capital increases and a marginal sale of Naspers shares by Prosus. Prosus shareholders will therefore own 57% of the company directly (vs 4...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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