Prosus: €101.8m of shares bought back in one week, the most and at the highest average price in six weeks

From 2 to 6 November 2026, Prosus bought back 2,780,140 of its shares for €101.8m, nearly a quarter more than the average of the previous five weeks, €82.2m. It paid €36.60 on average, the highest price of the six weeks, as in August, when its weakest week had been the one with the lowest price. For remaining shareholders, this pace is measured in the proportion of shares bought back: 0.13% in five trading sessions, 0.70% in six weeks.

Why it matters for Prosus shareholders: Prosus calculates its net asset value per share, €60.5 on 10 November, on 2,077.9 million shares at 6 November, a number it updates as the programme runs. Buying back a share below that level increases the net asset value attributable to each remaining share: our analysis of 22 October put that gain at 0.53% for €1.12bn bought back from 1 July to 9 October. The week of 2 November raises the amount spent on Prosus share purchases by nearly a quarter.

The open-ended programme, announced on 27 June 2022, covers Prosus shares and those of Naspers, with which it forms the group, bought from free-float shareholders. Every Tuesday, Prosus publishes the count for the previous week, with no cumulative total since the start and no remaining amount. From 28 September to 30 October, week by week, it bought back €79.8m, €83.5m, €82.8m, €84.1m and €80.9m, at average prices of €35.65, €35.36, €35.93, €34.70 and €34.22. The €101.8m of 2 to 6 November is 25.7% more than the previous week, paid at the highest price in the series (Opulion calculation on the published amounts). Our newsflow of 28 August had already noted, over five summer weeks, that the number of shares bought back did not follow the price.

For Prosus shareholders, three facts will show whether this pace can last. The update expected on Tuesday 17 November will show whether the €101.8m pace repeats. The half-year results of 25 November will then give Prosus's cash at 30 September, before five of these six weeks. The third is likely to take longer: the outcome of Uber's offer for Delivery Hero, in which Prosus undertook on 16 July to sell its remaining 16.8% at €41.50 per share, any proceeds it intends to use for general corporate purposes.