Bob van Dijk invests R157m in Prosus shares

The man in charge of JSE heavyweights Naspers and Prosus Bob van Dijk has taken a leap of faith and bought R157m in Prosus shares on the open market. The obvious question is why did he choose Prosus over Naspers given that the latter trades at a larger discount to its underlying net assets. Regardless, shareholders will be smiling as insider buying is almost always a positive sign. Insiders sell for many reasons, but only buy for one. Van Dijk has come under pressure from shareholders and analysts following a number of unsuccessful corporate actions. Despite shareholder push back against some of his ideas in order to unlock value, Van Dijk has been steadfast in his decision making. And there’s nothing like a R157m investment of his after-tax money to align shareholders interests with that of his own. – Justin Rowe-Roberts

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