Reported 11 days ago
Prosus NV has reported a profit of more than $2 billion from its investment in Swiggy as the food delivery company prepares for its IPO in India with a valuation of up to $11.3 billion. The firm, which has invested $1.3 billion for a 31% stake in Swiggy, plans to sell over $500 million worth of shares during the offering while retaining a 25% stake. Swiggy's shares soared 13% in their market debut, pushing its market value to approximately $11.7 billion, highlighting Prosus's strategy of leveraging its successful portfolio beyond its significant stake in Tencent.
Source: YAHOO