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Bullishness pushes Naspers’ market cap above R1trn for the first time

A R10 000 investment five years ago would now be worth R58 710.

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

This article was first published on TechCentral here, and republished with permission.

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