Naspers chief executive sells R1 billion worth of shares

Naspers chief executive officer Bob van Dijk, pocketed just under R1 billion following the sale of 414,932 shares in the group.

The group said in a regulatory filing on Wednesday (15 January), that Van Dijk sold his shares at a price of R2,400 each, totaling R995 836 800.

“Bob van Dijk will reinvest most of the resulting funds back into the Naspers group in the form of bonds which he will buy on the open market. Bob van Dijk continues to exceed the CEO minimum shareholding requirement of 10X his salary,” Naspers said.

Naspers, in 2019, completed the unbundling of its shares in MultiChoice Group (MCG) to Naspers shareholders following the listing of MCG on the Johannesburg Stock Exchange  on 27 February 2019.

Bloomberg reported that for years, Naspers has been trying to reduce a gap between its share price and the combined value of its assets. It split off these investments, including a 31% stake in Chinese tech giant Tencent Holdings Ltd, into a new unit called Prosus, which listed its stock in Amsterdam in September.

The aim of the European listing was to attract foreign investors who cannot buy into emerging-market companies.

In recent months, the company has turned its attention to online food delivery.

While Prosus lost out to to acquire UK online food-delivery company Just Eat, it has substantial investment in other players in the sector, sincluding India’s Swiggy and iFood.

Read: Naspers completes MultiChoice listing and unbundling

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Naspers chief executive sells R1 billion worth of shares