What do you think of the South African company Naspers (also traded OTC on a US listing) as a way of owning Tencent at a significant discount?
As far as I’m aware they still own a sizeable stake in Tencent (10%) as well as Flipkart and other less well known companies. I’m unsure if any were sold but their market cap would imply them trading at around a 50% discount to book value.
I noticed that Naspers was the second most major holding of the Baillie Gifford Alpha Growth ETF with it’s top holdings matching the names of my favorite holdings in my personal portfolio – Amazon Microsoft Alibaba, Alphabet.
Is it worth considering or have I done my maths wrong?
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