South African-based Naspers is planning a separate listing of its internet assets on Euronext Amsterdam, including its 31% stake in Tencent which is worth US$133 billion.

The 31% Tencent stake has long exceeded Naspers’ own market value. The separate listing is part of its efforts to reduce the gap between Naspers’ and its holdings in Tencent, reported, citing international wires.

The Cape Town-based company currently has a market value of about 1.41 trillion rand (US$98 billion), accounting for about 25% of the Johannesburg Stock Exchange’s weighting.

Its internet assets also include its investment in Russian internet platform Mail.Ru, German food delivery business Delivery Hero and Indian e-commerce startup Swiggy. Naspers will still control the new internet unit, called NewCo until it gets a name, by owning a 75% stake, with the rest a free float, the company said.

Besides the sale of a 2% Tencent stake in March 2018, Naspers has never reduced any of its holdings in the Chinese technology giant after its initial investment of US$33 million in 2001.