Naspers added R27 or 2.84% by 10:00 am on the JSE, taking its share price to R977, up 79% over the past year, and giving the group a market cap of R406.4 billion.
Naspers, through its subsidiary MIH, has a 34% interest in Tencent, China’s biggest Internet company, which surged 4% or HK$17.60 to HK$451.20 by late afternoon in Hong Kong.
Bloomberg reported that Tencent advanced after analysts at Barclays named the group among its top picks in China’s online sector.
Its shares initially spiked to a gain of 5%, giving the group a market share of $108 billion.
Bloomberg noted that Tencent’s stock also fed off a rally in US tech stocks, including Google, which surpassed $1,000 on the Nasdaq on Friday, as well as Facebook, as both reached record highs last week.