While Prosus hoped to list PayU by the end of 2024, its currently not on that path, Ervin Tu, Prosuss chief investment officer, said on a media call.
Were late into 2024 already, but we hope that it could be a 2025 event. Were still working with the company to firm the best timing.
Prosus, which is controlled by South Africas Naspers, owns 100 of PayU.
PayU has had plans to list since late 2023, at a 5-billion to 7-billion valuation. It recently emerged from a 15-month regulatory ban on enlisting new merchants and was authorised in April to operate as a payment aggregator.
It competes with the likes of Tiger Global-backed Razorpay and Walmart owned PhonePe for its core payments operation. PayU also facilitates loans to customers and small businesses.
