Prosus shares down sharply on upcoming share issue plan

Shares in Dutch technology investor Prosus traded sharply lower on Thursday as shareholders received rights to an upcoming share issue similar to a share split.

Existing shareholders received the right to 1.1796 new shares for each share they hold. The stock traded down 53.9% at 0735 GMT, reflecting the dilution.

Listen: Wat beteken Prosus se aankondiging vir aandeelhouers?

The issue is part of Prosus’s plan to unwind a complex cross-holding structure with its parent, Naspers of South Africa.

Read: Prosus agrees to sell part of PayU to Rapyd for $610m