Prosus stock faces tougher test as buyback pace slows

Bank of America has added a sharper operating test to the investment case for Prosus. In an analysis published by Finimize on Thursday, November 5, the bank said repurchases have helped contain the holding company's discount to its listed assets, while a slower pace puts more emphasis on portfolio performance.

What has changed since our last report

The latest analysis adds scale to the capital-return story. Bank of America estimates that Prosus has bought back about 30.4 percent of its outstanding shares since June 2022, while parent Naspers has repurchased about 27.8 percent of its own shares. Combined buybacks have reached 49.6 billion US dollars, according to the analysis.

The support is not static. Prosus repurchased about 90 million US dollars of shares in the week from October 26 to October 30, below the roughly 157 million US dollars weekly average since the programme began. If the pace weakens further, the discount will depend more heavily on whether the underlying portfolio delivers stronger growth and profitability.

Food delivery becomes the next test

Bank of America points to Just Eat Takeaway.com and iFood as the key operating areas. Progress at the food-delivery businesses could give investors a second route to a narrower discount, alongside continued share repurchases. The next first-half fiscal update therefore matters not only for earnings, but also for the credibility of Prosus's capital-allocation strategy.

The real-time quote of Prosus stock was 37.61 euros on Lang & Schwarz at 17:44 CET on Friday, November 6, 2026, 0.16 percent above the Xetra close of Friday, November 6, 2026. The comparison uses the Xetra close at 17:35 CET, while the Lang & Schwarz quote was recorded nine minutes later.

The Dutch market backdrop remains relevant as investors follow developments around the AEX.

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