Naspers was heading close to R4,000 a share on Friday after an almost 5% rise in the share price fuelled by the strong performance of Tencent, the Chinese company in which it has a 34% stake. The share traded 4.94% higher to a new record of R3,896.51 on the JSE on Friday after breaching the R3,000 level less than three months ago. It closed at R3,845. Tencent's share price on the Hong Kong Stock Exchange rose 2.96% to HK$40.30. Naspers said in a trading statement on Friday it expected core headline earnings per share to be between 62% and 67% higher in the six months to end-September compared to the same period a year before. Peter Takaendesa, a portfolio manager at Mergence Investment Managers, said the growth of the Naspers stock was due to a combination of three factors. The first factor was "the investment in Tencent".
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