LONDON, UK: Naspers Limited has applied for the cancellation of the listing of its American Depositary Shares on the standard segment of the Official List of the Financial Conduct Authority and of trading on the Main Market of the London Stock Exchange.
The delisting is intended to take effect on 14 January 2022. Following the Delisting, the ADR programme will continue, with the trading of the ADSs to continue via Naspers’s existing Level 1 ADR Programme operated by Bank of New York Mellon.
Naspers has monitored the level of trading in ADSs on the LSE for several years. The number of ADSs being traded on the LSE has been minimal in comparison to the level of trading on the US over-the-counter market (OTC). Therefore, Naspers believes that the administrative costs and continued obligations in connection with maintaining the listing of ADSs on the LSE are no longer to the benefit of Naspers and its shareholders.
Naspers will maintain its current Level 1 ADR programme to give current ADR holders the option to continue to hold ADRs. Level 1 ADRs are traded in the US over-the-counter market as opposed to on a US national securities exchange.
Holders of the Company’s N ordinary shares will remain unaffected. The N ordinary shares of the Company, including the N Ordinary Shares represented by the ADSs, will continue to trade on the Johannesburg stock exchange (JSE) in South Africa.
Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world.
Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has a listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.
In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies in the country. These include Takealot, Mr D Food, Superbalist, OLX, Autotrader, Property24 and PayU, in addition to Media24, South Africa’s leading print and digital media business.
Naspers is also focused on stimulating South Africa’s local tech sector through Naspers Foundry. This is a R1.4 billion investment targeting early stage technology companies in South Africa that seek to address big societal needs.
To help address youth unemployment in impoverished communities, in 2019, Naspers launched Naspers Labs, a social impact programme for young, unemployed South Africans aged between 17 and 25. Located in low income, urban settings, Naspers Labs provide a structured development journey enabling young people to enter the economy.
Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has an ADR listing on the London Stock Exchange (LSE: NPSN).
