R100 000 in Naspers over 19 years worth R26m

Cape Town - If someone had invested R100 000 in media group Naspers [JSE:NPN] when it first listed on the JSE, that investment would have been worth R26m today, according to Mof Terreblanche, a director of Stonehage Investment Partners.

"Of course Naspers' investment in Tencent in China has made a great contribution," Terreblanche told Fin24 on Friday.

Naspers celebrated its 19th year on the JSE on Thursday September 12 2013.

According to Terreblance the listing on September 12 1994 was responsible for headlines and new records at the time.
The value of Naspers shares on that day was R132.5m - the highest value ever obtained for a single share traded on a given day. The value was equal to 44% of the average daily turnover of R300m.

The listing price was R17.50 per share and the closing price after the first day's trading was R21.00 per share.

Just after lunchtime on Friday September 13 2013 the shares traded at R941.39 per share - up 0.13% from Thursday's record close of R940.15.

Terreblanche said the capitalised value of Naspers on the day of listing was R2.3bn on a share price of R21. On September 12 2013 it was R387.79bn on a share price of R932.

Naspers is currently the fourth largest company on the JSE by capitalised value. According to Terreblanche it is also the biggest company on the JSE with a primary listing in South Africa.

Ton Vosloo, chairperson of Naspers, told Fin24 on Friday that he remembers the first listing 19 years ago as a very exciting time.

He had quite a task to persuade some of the directors at the time to agree to such a listing. These directors were worried about creating opportunities for take-overs in the future.

MNet, in which Naspers had the biggest stake at the time, was part of the listing and added value, according to Vosloo.

At that time Naspers’ biggest income was derived from newspapers, magazines, books and printing.

"Once the internet came along and turned the world upside down, the media domain changed,” said Vosloo.

“We still keep print media going, because of the important role it plays in South Africa.”

He credits Naspers CEO Koos Bekker for leading the group on its growth path.

Today, Naspers is active in more than 130 countries, with investments in China and Russia being some of the most important.

“We are happy about the value we could create for our shareholders and think we can still explore many more opportunities in the future,” said Volsloo.

* Fin24 is part of Media24, a subsidiary of Naspers.

- Fin24

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