Prosus delays Indian payments firm PayU IPO to enhance business operations


FILE PHOTO: Prosus' logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

JOHANNESBURG (Reuters) -Dutch technology investor Prosus is not planning to list Indian digital payments and lending firm PayU this year, with the focus on improving the business over the next six to 12 months, its chief financial officer said on Monday.

While Prosus hoped to list PayU by 2025, "that is not going to be our focus in the next year. Our focus is actually going to be to improve that business," Nico Marais, Prosus's chief financial officer told Reuters.

(Reporting by Nqobile Dludla; Editing by Joe Bavier)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

30 years of the MP3: The story of a breakthrough that changed music
Opinion: Should you be using a password manager?
People are starting to sound like AI, research shows
SpaceX to invest $2 billion in Musk's xAI startup, WSJ reports
US online spending surges $24.1 billion as steep discounts boost sales, Adobe says
Opinion: Will Big Tech transform school into an AI video game?
DeepSeek bans being issued in growing number of countries
Google to pay $2.4 billion in deal to license tech of Windsurf, WSJ reports
Opinion: ChatGPT’s mental health costs are adding up
Elon Musk says his new AI model 'better than PhD level in everything'

Others Also Read