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MEDIA giant Naspers’s opening up of a San Francisco office was merely part of an expansion strategy and not a precursor to a foreign listing, it said on Wednesday.

The move into the US follows an announcement last month, that it would report results in dollars and not rands.

That sparked speculation that Naspers may be looking at a secondary listing elsewhere or to transfer its primary listing from the JSE.

Meloy Horn, Naspers’ investor relations officer on Wednesday dampened the speculations saying that opening an office in San Francisco was a completely different business consideration and not a strategic positioning for a listing.

"The recent change in reporting currency was purely driven by our transformation from a predominantly South African operation to a global internet and media group and no other reason."

"We are not considering re-domiciling and remain a South African group listed on the JSE," she said.

Naspers has been lauded for its early investment in Chinese e-commerce site Tencent Holdings and currently has a market capitalisation of R876bn on the JSE.

The move into San Fransisco was part of sharpening its Naspers Ventures business, and "simply a logical next step" for expansion, Ms Horn said.

"Our renewed interest in the US is to identify, early on, the new platforms with global potential and the entrepreneurs with global ambition, but who need support to accelerate their growth," she said.

Naspers previously listed its shares as American depositary receipts on Wall Street and later relocated the listings to the London Stock Exchange.

Ms Horn said its primary listing would remain on the JSE. "The JSE, and our stock … remain very liquid," she said.

Last pic is from Moneyweb's site.

BABA. . +0.10% 79.80 
MAIL.IL. . +1.65% 18.94 
0700.HK. . -1.09%  154.80   
BHP.AX. . +0.03% 18.56 
NPSNY. . -0.15% 13.24 

DJ Futures 06:52 17681.00 22.00 0.12%
 
DJ Ind 11/05 17711.12 -217.23 -1.21%
 
SP 500 11/05 2064.46 -19.93 -0.96%
 
Nasdaq 11/05 4760.69 -49.19 -1.02%
 
FTSE 100 11/05 6162.49 5.84 0.09%
 
DAX 11/05 9975.32 -70.12 -0.70%
 
CAC40 11/05 4316.67 -21.54 -0.50%
 
Nikkei 07:12 16555.89 -23.12 -0.14%
 
Shanghai 06:08 2828.92 -8.12 -0.29%
 
Hang-Seng 06:30 19969.01 -86.28 -0.43%

Gold $ 07:19 1271.47 -5.52 -0.43%
 
Gold R 07:20 19124.00 -85.00 -0.44%
 
Gold R/kg 07:20 615325 -8551 -1.37%
 
Silver $ 07:20 17.3270 -0.0620 -0.36%
 
Platinum $ 07:19 1063.45 0.34 0.03%

Brent Crude 07:20 47.46 1.94 4.26%
 
USD / ZAR 07:19 15.0528 0.0189 0.13%

EUR / USD 07:20 1.1420 -0.0003 -0.03%

was 5th last month

See Darkside says there is no Perfect portfolio....     , he obviously reads the heading and stops ..

@jaDEB... pathetic, pathetic...loser ... L

BABA. . +0.47% 79.20 
MAIL.IL. . -3.17% 19.31 
0700.HK. . +0.78%  155.10   
BHP.AX. . -1.08% 18.26 
NPSNY. . +0.23% 12.94

DJ Futures 07:38 17680.00 9.00 0.05%
 
DJ Ind 06/05 17740.63 79.92 0.45%
 
SP 500 06/05 2057.14 6.51 0.32%
 
Nasdaq 06/05 4736.15 19.06 0.40%
 
FTSE 100 06/05 6125.70 8.45 0.14%
 
DAX 06/05 9869.95 18.09 0.18%
 
CAC40 06/05 4301.24 -18.22 -0.42%
 
Nikkei 07:38 16192.96 86.24 0.54%
 
Shanghai 07:28 2845.60 -67.65 -2.32%
 
Hang-Seng 06:28 20209.30 99.43 0.49%

Gold $ 07:42 1280.84 -7.24 -0.56%
 
Gold R 07:42 18962.05 -248.04 -1.29%
 
Gold R/kg 07:41 616280 -8048 -1.29%
 
Silver $ 07:43 17.3610 -0.0580 -0.33%
 
Platinum $ 07:42 1067.79 -11.00 -1.02%

Brent Crude 07:18 45.94 0.93 2.07%
 
USD / ZAR 07:42 14.8067 -0.1067 -0.72%

EUR / USD 07:42 1.1400 -0.0001 -0.01%

mmm, see you also talk to yourselve, we laugh about it together...