Naspers share price hits R4,000
JSE-listed internet and media giant Naspers hit R4,000 a share on Monday afternoon, amid continued optimism over Chinese internet company, Tencent, in which the South African company has a 33.2% stake.
Last week (Wednesday, 15 November), Tencent reported a 61% increase in revenue for its third quarter to $9.8 billion, fueled by advertising and and sales in its gaming segment.
Naspers has shown big gains in 2017, growing 38.5% from R2,888 a share in January, to R4,000 on Monday.
Over the past 12 months, the stock has nearly doubled, from R2,086 a share in November 2016.
According to Bloomberg, the trade range for Naspers shares on Monday was between R3,923.96 and R4,000.00.
On Friday, 17 November, Naspers issued a trading statement saying that it expects half-year earnings to be between 62% and67% higher than the same 2016 period.
Read: Naspers hits record high as Tencent reports blowout quarter
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