Prosus Buyback Surge and CEO Confidence—JSE: PRX Share Price Extends Rally After Breakout
African tech investor Prosus (JSE: PRX) continues its powerful rally, soaring to record highs after breaking above a key resistance zone.
Quick overview
- Prosus has reached record highs, gaining nearly 350% over the past three years after a low in early 2022.
- The stock rose 4.5% on Wednesday and over 7% in the past five trading days, hitting an all-time high of 108,304 ZAC.
- Investor confidence is bolstered by a significant share buyback program and a major stock purchase by CEO Fabricio Bloisi.
- Regulatory challenges may arise as Prosus prepares to reduce its stake in Delivery Hero to address antitrust concerns in Europe.
African tech investor Prosus (JSE: PRX) continues its powerful rally, soaring to record highs after breaking above a key resistance zone.
Prosus Hits Record Highs in Steady Bull Run
After hitting a low near 32,500 ZAC in early 2022 following a sharp pullback from its 2021 peak, Prosus shares have been on a sustained upward trajectory. The stock has gained nearly 350% over the past three years, delivering significant returns to long-term investors. It rose another 4.5% on Wednesday alone and over 7% in the past five trading days, reaching a new all-time high of 108,304 ZAC.
PRXJn Chart Weekly – Uptrend Picking Up Pace
Throughout this long-term advance, Prosus has consistently found support from its weekly moving averages—particularly the 50-week simple moving average, which has served as a key zone of buyer interest and a launching pad for renewed rallies. The technical breakout above resistance has reinforced bullish momentum, positioning the stock for further upside.
Share Buybacks and Insider Confidence Reinforce Bullish Case
Investor sentiment received another boost this week with Prosus announcing fresh activity under its ongoing share repurchase program. Between July 14 and July 18, 2025, the company repurchased 2,088,768 shares at an average price of €48.82, amounting to nearly €102 million (about $118.5 million USD) in total consideration.
Adding to the bullish tone, Group CEO and Executive Director Fabricio Bloisi recently made headlines by personally purchasing €20 million worth of Prosus stock at an average price of €48.46. The move increased his stake by a staggering 326%, sending a clear signal of executive confidence in the company’s trajectory—comparable, one might say, to a shy genius mustering the courage to ask out the school’s most sought-after student.
Deal Hurdles Ahead: Delivery Hero Stake May Be Cut
Meanwhile, regulatory challenges may be brewing in Europe. Prosus, headquartered in the Netherlands and majority-owned by South Africa’s Naspers, is reportedly preparing to reduce its 27% stake in Delivery Hero. The move is said to be a response to pressure from the European Commission as Prosus seeks approval for its proposed acquisition of Just Eat Takeaway.com.
EU regulators have reportedly raised antitrust concerns regarding Prosus’s growing influence in the European food delivery sector. A full or partial divestiture from Delivery Hero could be necessary to clear the path for the deal and avoid regulatory blockades.
Outlook:
Despite the looming regulatory complexities, Prosus’s fundamentals and momentum remain robust. With record share prices, confident insider buying, and a disciplined buyback strategy, the company is cementing its status as one of the region’s most powerful tech investment vehicles. The next test may come not from the market, but from Brussels.
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