Prosus stock buyback covers 2.78 million shares

Prosus repurchased 2.78 million of its own shares between November 2 and November 6, according to an announcement published by Prosus on Tuesday, November 10. The transaction forms part of the open-ended programme covering Prosus shares and Naspers shares and announced in June 2022.

Prosus said the shares were bought at an average price of 36.6009 euros each. The total consideration was 101,755,515.37 euros, equivalent to 114,002,290.17 US dollars. The company did not announce a change to the programme's overall framework in the update.

Capital allocation remains central

The latest tranche gives investors a fresh measure of the pace at which Prosus is deploying capital to reduce its share count. Buybacks can support per-share metrics over time, but their effect on the investment case also depends on the performance and valuation of the group's operating portfolio.

Prosus combines interests in food delivery, payments, classifieds, travel, events and other technology businesses with venture investments. That structure leaves the shares exposed both to operating execution and to the market's assessment of the value of listed and private holdings.

Prosus stock traded at 36.98 euros on Lang & Schwarz at 11:14 a.m. CET on Wednesday, November 11. The quoted price stood during the European session, while the buyback announcement referred to purchases completed several days earlier.

Dutch equities remain part of the wider European market backdrop tracked by the AEX index.

Investors following the capital-allocation programme can find More news and analyses on Prosus stock.