With 26% profit growth, Naspers brings sunshine into SA investor gloom
Looking ahead, Naspers plans to drive profitability in its established e-commerce segments while selectively investing in earlier stage opportunities.
Looking ahead, Naspers plans to drive profitability in its established e-commerce segments while selectively investing in earlier stage opportunities.
Naspers’s full-year earnings rose by as much as a third ahead of the technology group’s planned asset spinoff in Amsterdam, a move designed to reduce its dominance of Johannesburg’s stock exchange.
Naspers has taken another big step towards the listing of its international internet assets onto the Euronext stock exchange in Amsterdam.
Like Naspers, SoftBank has struggled to be seen by investors as little more than a proxy for Alibaba, and derives much of its value from the e-commerce company.
Naspers is comfortably the biggest share in SA retirement portfolios, carrying a weighting of 25% in the JSE’s SWIX index.
The Naspers deal required approval by the South African Reserve Bank and will generate a R1bn windfall for the country in share transfer tax.
Listing MultiChoice through an unbundling unlocks value for Naspers shareholders by creating the opportunity for them to own a direct stake in a top-40 JSE-listed African entertainment group.
Naspers announced the executive leadership team for the newly formed MultiChoice Group (formerly Naspers’ Video Entertainment business).
In this teleconference call, Naspers CEO Bob van Dijk along with MultiChoice CEO Imtiaz Patel, explain the rationale for the unbundling.
Tencent selloff sparks fears of broader contagion for tech stocks around the world.