Tencent feeds Naspers rise

Naspers, the highest priced share on the Johannesburg Stock Exchange (JSE), was approaching the R1000-a-share mark, the Business Day newspaper reported on Thursday.

Naspers’ share price did fall 3.92 percent to R919 on Wednesday, but it holds a significant lead over the second highest priced share on the JSE, British American Tobacco at R522.28, according to the report.

Even though it is the highest priced share, analysts were still bullish regarding the growth of the multimedia group following gains in associate Asian internet company Tencent, in which Naspers holds a 35 percent stake.

Tencent’s value would rise further as it was one of three dominant internet groups in China, the newspaper reported.

However, Naspers faced two risks in that currency movements would affect its valuation given its close ties to Tencent, and the possibility the Chinese government would approve Facebook’s entry into the country.

More on Naspers

Biggest companies in South Africa

No desire for DStv revenge: Rupert

Naspers revenue tops R50 billion

What SA’s tech top dogs get paid

Must Read

Partner Content

Show comments

Trending Now

Follow Us

Tencent feeds Naspers rise