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    NPN   ZAE000015889

NASPERS LIMITED

(NPN)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 06/18
3050.17 ZAR   -0.56%
06/16NASPERS LIMITEDá : annual earnings release
06/15SENS : Update on Naspers share purchase
PU
06/11Naspers' directors to have significant shares in co after share exchange deal
RE
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Naspers' directors to have significant shares in co after share exchange deal

06/10/2021 | 02:42pm EDT

JOHANNESBURG, June 10 (Reuters) - The incentives of executive directors in Naspers Ltd will be linked to the performance of the company and a share exchange programme with subsidiary Prosus will not alter that, the company said on Thursday.

Last month, Naspers and Prosus had announced a share exchange programme under which Prosus, listed on Euronext in Amsterdam, would issue new shares to buy up to 45.4% of its parent Naspers' shares listed on the Johannesburg Stock Exchange (JSE).

The deal, which analysts have said would lead to a vast cross holding structure, was done to shrink a steep discount that Naspers currently trades at to the value of its holding in Prosus and to the value of its blockbuster investment in China's Tencent Holdings, which is held 28.9% by Prosus.

However, analysts and shareholders have argued that a vast cross holding will not help in reducing the steep discount and could potentially take away the board's incentive to work towards the interest of Naspers shareholders.

"We continue to be committed to Naspers," Bob van Dijk, CEO of both the companies, told Reuters.

"Basil (CFO Basil Sgourdos) and I actually have most of our financial health, our long term financial health, tied up in Naspers share options. And we promised our shareholders that we will not exercise those options," he said.

Naspers, Africa's biggest company and a technology behemoth, holds a 73.2% stake in Prosus, where all of its international assets spread across e-commerce, food delivery, fin tech, education technology are housed including Tencent.

In a separate statement, the company said its core headline earnings per share - the main gauge of corporate profit in South Africa - for the period that ended March 31 is expected to increase by between 135 and 181 cents per share.

It will be announcing its full year results on June 21. (Reporting by Promit Mukherjee Editing by Alexandra Hudson)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
NASPERS LIMITED -0.56% 3050.17 End-of-day quote.1.02%
PROSUS N.V. -2.00% 84.19 Real-time Quote.-4.72%
TENCENT HOLDINGS LIMITED 0.67% 603 End-of-day quote.6.91%
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06/11Naspers' directors to have significant shares in co after share exchange deal
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06/10NASPERSá : Update on voluntary share exchange offer by Prosus N.V. to Naspers sh..
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More news
Financials (USD)
Sales 2021 5 517 M - -
Net income 2021 4 553 M - -
Net cash 2021 274 M - -
P/E ratio 2021 23,0x
Yield 2021 0,23%
Capitalization 87 444 M 87 916 M -
EV / Sales 2021 15,8x
EV / Sales 2022 12,0x
Nbr of Employees -
Free-Float 95,8%
Chart NASPERS LIMITED
Duration : Period :
Naspers Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends NASPERS LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 12
Average target price 347,08 $
Last Close Price 211,97 $
Spread / Highest target 98,7%
Spread / Average Target 63,7%
Spread / Lowest Target 33,4%
EPS Revisions
Managers and Directors
NameTitle
Robert van Dijk Chief Executive Officer & Executive Director
Vasileios Sgourdos Financial Director & Executive Director
Jacobus Petrus Bekker Non-Executive Chairman
Patrick Luke Kolek Group Chief Operating Officer
Debra Meyer Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
NASPERS LIMITED1.02%87 916
TENCENT HOLDINGS LIMITED6.91%738 978
NETFLIX, INC.-7.40%222 043
PROSUS N.V.-4.72%160 586
UBER TECHNOLOGIES, INC.-2.55%93 336
AIRBNB, INC.3.90%92 781