Renewed bullishness towards media and Internet giant Naspers has pushed its market capitalisation above R1 trillion for the first time.
On Tuesday, Naspers’s share price jumped to a new all-time high of R2 320,73, pushing its market value in 13-digit territory.
Shortly after 10am, the share was trading at R2 319, which translated into a market capitalisation — calculated by multiplying the share price by the number of shares in issues — of R1.02 trillion.
Year to date, Naspers has appreciated by 9,4%, while over the past 12 months, the counter has added 29,9%. An investment five years ago of R10 000 would now be worth R58 710, while the same investment ten years ago would have netted a return of R182 600.
Naspers has strongly outperformed the market, mainly thanks to its roughly one-third investment in China’s fast-growing Internet giant Tencent.
The group owns a range of internet and e-commerce businesses around the world. It also owns DStv and SuperSport parent MultiChoice. (c) 2016 NewsCentral Media