Prosus writes off 9.6% stake in edtech firm Byju's
Prosus writes off 9.6% stake in edtech firm Byju's
Tech investor Prosus NV announced on Monday that it wrote off the fair value of its 9.6% effective stake in embattled edtech firm Byju's during the fiscal year 2024.
The decision was prompted by a substantial decline in equity value for investors.
Prosus reported a fair value loss of $493 million, which was recognised in other comprehensive income for the year, as disclosed in its annual report.