Naspers’s pay-TV business, which starts trading as an independently listed company on Wednesday, is expected to have a market cap of up to R90bn
The JSE’s top-40 index is poised for a shake-up as shares in Naspers’s pay-TV business, MultiChoice Group, will start trading on the local bourse on Wednesday.
But the share is expected to trade in a wide range on Wednesday, given that it is being unbundled without a reference price and traders will take some time to determine its fair value. Meanwhile, the JSE is likely to open slightly higher on Wednesday, taking its cue from Asian markets, which were boosted by dovish comments from Federal Reserve chair Jerome Powell.Hong Kong’s Hang Seng index was up 0.6% shortly after the lunch break, while Japan’s Nikkei 225 index was 0.5% up.BHP Group, a JSE top-40 heavyweight, was 0.4% higher in Australia.
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