Naspers gains R260bn after caving in to investor demands
Simplification announced after discount reduction fails
27 June 2023 - 22:45
Naspers has caved in to shareholder demands and announced the simplification of the business — in a move expected to lead to the ramping up of its record share buyback programme, which has created more than R500bn in shareholder value in the past year.
In reaction to the news that Naspers, a stock market heavyweight widely held by pension funds and portfolio managers, will wind down the cross-shareholding structure with its Amsterdam-listed tech investor, Prosus, shares in both entities surged, adding another R260bn in market cap on Tuesday...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.