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