PREMIUM: On the record: Naspers CEO Bob van Dijk faces questions from Wall Street analysts
LONDON — Naspers has just ended its first New York Investor day where its executives went to tell the story of Africa's most valuable business to the best heeled investors on earth. The prime reason was to address an abnormality where the stock price of the South African-headquartered business trades at a 38% discount to the value of its underlying assets. In this fascinating half hour of interaction, Naspers CEO Bob van Dijk fields questions fired at him by Wall Street's finest, answering queries ranging from how he intends closing that abnormally high discount through to how the group handles capital allocation. Naspers has a market value of more than R1,500bn and a weighting that's a touch above 20% in the JSE All Share Index, making it an anchor holding in every South African investment and retirement portfolio. – Alec Hogg
I'm from Morgan Stanley. Just on the last meeting is there a timeline that you have in mind as to how long you would wait before you decide that you'd exit that particular business? Also, in terms of the sectors that you are looking at for investments are there any particular sectors you are more focussed on and any sectors you would not be looking at, at all?
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