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    NPN   ZAE000015889

NASPERS LIMITED

(NPN)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 09/20
2323.71 ZAR   -3.18%
09/15South Africa's rand falls on weak retail sales data; stocks inch up
RE
09/10South African rand firms up to two-month high level
RE
09/09South African rand stronger as current account surplus widens to record high
RE
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

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 -3.18% 2323.71 End-of-day quote.-23.04%
PROSUS N.V. -1.58% 67.83 Real-time Quote.-23.23%
TENCENT HOLDINGS LIMITED -1.65% 454.2 End-of-day quote.-19.47%
All news about NASPERS LIMITED
09/15South Africa's rand falls on weak retail sales data; stocks inch up
RE
09/10South African rand firms up to two-month high level
RE
09/09South African rand stronger as current account surplus widens to record high
RE
08/31South African rand firms as risk aversion subsides
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08/31Prosus doubles down on India with $4.7 billion deal for BillDesk
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08/31NASPERS : Stocks shrug off weak China data, jump 1.4%
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08/31SENS : Prosus increases stake in Delivery Hero
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08/31DGAP-PVR : Delivery Hero SE: Release according to Article 40, Section 1 of the W..
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08/31Prosus doubles down on India with $4.7 bln deal for BillDesk
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08/31SENS : Acquisition of 100% of the equity in BillDesk
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More news
Analyst Recommendations on NASPERS LIMITED
More recommendations
Financials (USD)
Sales 2022 7 840 M - -
Net income 2022 4 905 M - -
Net Debt 2022 3 056 M - -
P/E ratio 2022 18,0x
Yield 2022 0,31%
Capitalization 63 137 M 63 203 M -
EV / Sales 2022 8,44x
EV / Sales 2023 6,80x
Nbr of Employees -
Free-Float 93,4%
Chart NASPERS LIMITED
Duration : Period :
Naspers Limited Technical Analysis Chart | NPN | ZAE000015889 | MarketScreener
Technical analysis trends NASPERS LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 12
Last Close Price 157,26 $
Average target price 307,96 $
Spread / Average Target 95,8%
EPS Revisions
Managers and Directors
Robert van Dijk Group Chief Executive Officer & Executive Director
Vasileios Sgourdos Financial Director & Executive Director
Jacobus Petrus Bekker Non-Executive Chairman
Patrick Luke Kolek Group Chief Operating Officer
Ervin Tu Group Head-Investments, Strategy, M&A
Sector and Competitors
1st jan.Capi. (M$)
NASPERS LIMITED-23.04%65 278
TENCENT HOLDINGS LIMITED-19.47%565 345
NETFLIX, INC.8.99%260 844
PROSUS N.V.-22.00%257 627
AIRBNB, INC.13.48%103 193
DOORDASH, INC.56.15%75 329