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Prosus Gains $2 Billion on Swiggy Investment with IPO Valuation

Tencent Holdings Ltd.’s top backer Prosus NV said it has made more than $2 billion on its Swiggy investment as it continues to highlight the value of its portfolio outside of its stake in the Chinese tech giant. Prosus and its controlling shareholder Naspers Ltd. have invested $1.3 billion building a 31% stake in Swiggy ahead of its stock market debut in India on Wednesday. The food delivery firm is targeting an initial public offering valuation of up to $11.3 billion....

Read more at bloomberg.com

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