CEO Bob van Dijk struggles to close valuation gap between Chinese investment and the rest of the company
Naspers’s international subsidiary Prosus, the biggest by market capitalisation on the JSE since its 2019 listing, has lost its top spot following an onslaught of Chinese regulatory action that has battered its most valuable asset, Tencent.
PremiumA subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JSE’s worst close this year as Naspers, Prosus plunge on Tencent troublesThe slide continued on Africa's biggest stock exchange on Tuesday morning, with the bourse down over 2% in morning trade, following news of the Chinese tech giant facing a record fine.
Read more »
JSE plunges below 70 000 points on Naspers/Prosus falloutThe JSE’s (Alsi) plunged below the psychological 70 000 points mark. This is in the wake of the Naspers/Prosus fallout, after reports that majority-owned Tencent faces a stiff fine in China over allegations of violating anti-money laundering rules.
Read more »
INVESTMENT WATCH: Naspers and Prosus share price free fall triggers market jittersNaspers is trading at a record 60% discount to its underlying value. Some argue that this is a bargain to be snapped up. Others argue that there is a reason the discount is so wide and suggest investors steer clear. Whatever it is, current shareholders are hurting.
Read more »
JSE faces mixed Asian markets on Monday as China battles Covid-19 waveCase numbers have more than tripled, while markets are also focused on the potential for peace in Ukraine
Read more »
JSE slips as investors await US Fed’s interest rate announcement‘The FOMC will be the economic data highlight of the week, even as the short-term financial markets chase their tails on Ukraine developments’
Read more »
MARKET WRAP: Naspers drags JSE to a two-month lowMarkets will be focusing on the continuing conflict in Ukraine and the US Federal Reserve, which is expected to hike interest rates this week
Read more »