Prosus faces investor flak over $144m fee for Naspers share swap

A logo sits on display inside the headquarters of Napsters Ltd., at the Media24 Ltd. office complex in Cape Town, South Africa. Photographer: Halden Krog/Bloomberg

Technology investor Prosus will pay up to $144 million in transaction fees when it buys a block of parent company Naspers’ shares, according to a document submitted to stock exchanges on July 12, prompting criticism from investors.

The fees total more than Prosus‘ free cashflow for the year ended March 31, and are almost three times more than Naspers paid in 2019 to list Prosus on the Amsterdam Stock Exchange.

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