For enquiries, contact us. ISIN: NL0013654783 The round, which brought the total funds raised to US$22m, saw participation from existing investors Middle East... Naspers Sets the Date for Its Tencent Stake Spinoff: What Investors Need to Know The South African company's shares have been trading at a major discount for technical reasons. Read more, Keep up with news and thoughts from across the Prosus family, For news relating to group companies prior to the listing of Prosus in September 2019 please, Klar announces US$15M Series A to democratize financial services in Mexico, Churchill Capital Corp II Announces Agreement to Acquire Skillsoft and Global Knowledge to Create Le, Pakistan’s on-demand platform Bykea raises $13 million in Series B funding, Q&A: Brainly Chief Product Officer, Rajesh Bysani, on growth in India, the impact of Covid on educat, Zoop receives R$60 million investment led by Movile, Prosus Ventures partners with Brainly to celebrate The Zeal Of Teachers With Shikshak Of The Year –. A taxable spinoff is a divestiture of a subsidiary or division by a publicly traded company, which will be subject to capital gains taxation. MEXICO CITY October 2020. Divestment is the partial or full disposal of a business unit through sale, exchange, closure, or bankruptcy. There are detailed requirements in the Internal Revenue Code (IRC) section 355 that go beyond the basic spinoff structure outlined above. Twitter. Tax policy Stakeholder engagement News Companies Ventures Technology Careers Investors Overview ... Klar, a leading challenger bank in Mexico, closed on US$15 million in Series A funding led by Prosus Ventures (formerly Naspers Ventures) with... Read more. Tax-free spinoff refers to a corporate action in which a publicly traded company spins off one of its business units as an entirely new company. Section 86.1 of the Income Tax Act allows Canadian resident shareholders of foreign corporations to make a special election in respect of certain eligible distributions of spin-off shares. Naspers (JSE: NPN and LSE: NPSN, South African consumer internet conglomerate, has already spun-off its sizeable investment Prosus (AEX: PRX and JSE: PRX). Teachers were quick to  adapt to an almost overnight change and pooled in extra hours to help their students stay focused, ensuring the quality of... CNBC Africa. This cost will be allocated between the original shares and the spin-off shares. A split-off is a corporate reorganization method in which a parent company divests a business unit with the option for exchanging shares. Since its founding in Poland in 2009, Brainly has united over... Nishlen Govender, a portfolio manager at Citadel, said Naspers’ decline was fully expected following the separate listing of Prosus. Instead, the ACB will be based on the cost of the original shares that generated the distribution of the spin-off shares. Naspers spinoff Prosus listed on the JSE on Wednesday and opened at R1 238 a share. See the following pages for more information on this special election and the foreign spin-offs that are eligible, and for an example of the calculation of the ACB when an election is made. Klar, a leading challenger bank in Mexico, closed on US$15 million in Series A funding led by Prosus Ventures (formerly Naspers Ventures) with...   CLARIFICATION REGARDING THE PROCESSING OF... Email. The manner in which a parent company structures the spinoff and divests itself of a subsidiary or division determines whether the spinoff is taxable or tax-free. Read more, Bykea, a Pakistan-based on-demand transport & logistics platform, announced today that it has raised a Series B funding round led by Prosus Ventures (formerly Naspers Ventures).