Naspers' share price

2022 - 6 - 27

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Image courtesy of "CNBC"

Tencent stock falls as Prosus/Naspers to sell shares to fund buybacks (CNBC)

The move is aimed at closing a gap between the market value of Prosus/Naspers and that of the 28.9% stake in Tencent they own.

And, you know, we have Tencent support in this decision." "It's something we had to consider in arriving at this decision. Tencent said it supports the move and expects the impact of the share sale to be "limited". The move is aimed at closing a gap between the market value of Prosus/Naspers and that of the 28.9% stake in Tencent they own, which is currently worth about $136 billion. - The move is aimed at closing a gap between the market value of Prosus/Naspers and that of the 28.9% stake in Tencent they own, which is currently worth about $136 billion. - Tencent said it supports the move and expects the impact of the share sale to be "limited".

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Image courtesy of "Financial Times"

Naspers to sell more of Tencent stake in bid to revive shares (Financial Times)

South African internet group Naspers, Tencent's biggest shareholder, has abandoned a pledge not to sell stock in China's most valuable company as it seeks ...

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Image courtesy of "Business Day"

MARKET WRAP: Naspers helps power JSE's 2% recovery (Business Day)

Shares in the market heavyweight rocket after it announces an open-ended buyback process.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily. The JSE extended the previous session’s gains on Monday, lifted by heavyweight Naspers, while global markets had a mixed start to the week as Friday’s rally ran out of steam. Shares in Naspers, Africa’s largest listed investment group, rocketed after it announced an open-ended buyback process aimed at tackling its discount, fuelled by the steady sale of shares in Chinese media giant Tencent...

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Image courtesy of "Reuters"

Naspers “put” tackles one of its Tencent problems (Reuters)

Naspers has finally realised the value of simplicity. The South African company's main asset is a 29% shareholding in Chinese internet giant Tencent ...

The programme would remain in place as long as the discount was at “elevated levels”. To avoid weighing on the Chinese company’s share price, Naspers and Prosus say they will only sell up to 5% of the average daily trading turnover, at most about 1 million shares a day. And by keeping his wording vague – the buybacks will last as long as the discount remains “elevated” – van Dijk has scope to slow the pace if the gap narrows as planned. A pledge on Monday to slowly sell some Tencent stock and return the cash to shareholders has the merits of being both intelligible and reassuring. Despite spinning off an Amsterdam-listed subsidiary, Prosus (PRX.AS), in 2019, the gap has sometimes widened to 60% or more. But Naspers has consistently traded at a big discount to that stake, while tying itself in increasingly complicated knots to close the gap.

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Image courtesy of "Investing.com"

Prosus Shares Rise After Parent Naspers Announces Tencent Stake ... (Investing.com)

By Scott Kanowsky. Investing.com -- Shares in Prosus (AS:PRX) spiked by more than 14% on Monday, after the technology investor's parent company dropped its ...

Naspers' Prosus-unit faces particular risk from the slump, with the Financial Times reporting that investors see almost no value in its assets outside of Tencent. By Daniel Wiessner (Reuters) - A federal judge in California on Monday ordered a new trial on the damages Tesla (NASDAQ:TSLA) Inc owes to a Black former factory worker who accused... Investing.com -- Shares in Prosus (AS: PRX) spiked by more than 14% on Monday, after the technology investor's parent company dropped its vow not to sell stock in China's most valuable company Tencent (HK: 0700) to help fund a major share buyback program.

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