Prosus Leads Stoxx 600 Risers on Tencent Gains

Dow Jones03-10
 

By Joe Stonor

 

Prosus shares rose tracking gains in Tencent Holdings, in which the investment group is the largest shareholder.

The Amsterdam-listed group--which invests in consumer-facing internet companies and holds a 23.12% stake in Tencent--rose 9%, or 3.91 euros, to 46.485 euros in early European trading Tuesday. The stock is the sharpest riser in the Europe-wide Stoxx 600 index.

The move tracked a surge in Tencent shares. The Chinese tech giant rallied 7.3% in Hong Kong amid a broader tech rebound across Asia, spurred by comments from President Trump suggesting the war in Iran would soon end.

Prosus shares move in lockstep with Tencent, given the Shenzhen-based company represents 75.9% of Prosus's portfolio. Its investment in Tencent is valued at around $136.8 billion.

The portfolio includes stakes in more than 80 companies, including a stable of educational technology startups and food delivery names like Delivery Hero and Just Eat.

Prosus group has a market valuation close to $118 billion, a significant discount to the $180.3 billion net asset value of its holdings.

South African media group Naspers owns a controlling 41% stake in Prosus after it spun off the investment group in a 2019 listing. Its shares are up 7.4% at 946.00 South African Rand.

 

Write to Joe Stonor at josephmichael.stonor@wsj.com

 

(END) Dow Jones Newswires

March 10, 2026 06:37 ET (10:37 GMT)

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