Prosus Nv Sponso Stock Price, News & Analysis

Naspers Limited announced that Tencent declared a special interim dividend in the form of a distribution of JD.com shares. Prosus N.V., majority-owned by Naspers, received 131,873,028 JD.com shares, amounting to a 4% interest. Following the distribution, Prosus executed an orderly market disposal of these shares, concluding on June 24, 2022, generating proceeds of approximately US$3.67 billion. The carrying value of the JD.com shares, as of March 31, 2022, was around US$3.94 billion, with zero profit after tax for the fiscal year ending on that date.

On December 23, 2021, Tencent Holdings announced a special interim dividend in the form of Class A shares of JD.com, resulting in Prosus receiving approximately 131.87 million JD.com shares, an effective interest of 4%. The orderly disposal of these shares concluded on June 24, 2022, generating about US$3.67 billion in proceeds, which will support general corporate purposes. As of March 31, 2022, the carrying value of these shares was approximately US$3.94 billion, with no profit attributed for the fiscal year ending March 31, 2022.

On January 11 and 12, 2022, Prosus priced notes totaling US$5.25 billion under its Global Medium-Term Note Programme. The offerings include various US dollar and euro-denominated bonds due between 2026 and 2052, aimed at enhancing financial flexibility for growth initiatives, both organically and via acquisitions. This strategy follows an upgrade to a BBB long-term rating by S&P in December 2021. The offerings close on January 19, 2022, with plans for listing on the Euronext Dublin Global Exchange Market.

Prosus N.V. reported strong results for the six months ending September 30, 2021, with ecommerce revenues rising 53% to US$4.2 billion. Total revenues increased 29% to US$16.6 billion, while trading profit grew 8% to US$2.9 billion. The company invested US$5.2 billion since April 2021 to enhance growth, and its ecommerce portfolio valuation is now approximately US$50 billion. Key growth areas include Food Delivery (up 86%) and Classifieds (up 101%). However, the Food Delivery segment faced a trading loss of US$312 million.

Prosus has announced the acquisition of BillDesk for US$4.7 billion, significantly enhancing PayU's status as a leading online payment provider globally, with a total payment volume (TPV) projected at US$147 billion. Following this deal, Prosus’s total investment in Indian tech will surpass US$10 billion. This acquisition aims to meet evolving payment needs in India, leveraging PayU's existing strengths. The transaction awaits approval from the Competition Commission of India.

Churchill Capital Corp II (NYSE: CCX.U) has announced that its stockholders approved the merger with Software Luxembourg Holding S.A. (Skillsoft) during a special meeting on June 10, 2021. Approximately 97.7% of votes cast, representing about 71.5% of outstanding shares, favored the merger. The transaction is expected to close on June 11, 2021, with the combined entity acquiring Albert DE Holdings Inc. (Global Knowledge). The new company will be named Skillsoft Corp., changing its ticker symbol to 'SKIL' on June 14, 2021.

Churchill Capital Corp II (NYSE:CCX) is set to merge with Software Luxembourg Holding S.A. (Skillsoft) on June 11, 2021. This merger will further its acquisition of Albert DE Holdings Inc. (Global Knowledge). Notably, Prosus cleared a $500 million strategic investment, which will lead to executive appointments, including Patrick Kolek as Chairperson. The company maintains its combined outlook for FY 2022, projecting Adjusted Gross Revenue between $645-675 million and Adjusted EBITDA of $155-175 million.

Churchill Capital Corp II (CCX) announced a webinar featuring Jeff Tarr, incoming CEO of Skillsoft, and Larry Illg, CEO of Prosus EdTech, to discuss the pending merger with Global Knowledge Training LLC. This combination aims to form a leading global corporate digital learning company, enhancing their market position with comprehensive content offerings. The merger is expected to generate significant recurring revenue and serve a broad customer base, including 70% of Fortune 1000 companies. A Special Meeting for shareholders will take place on June 10, 2021.