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General Category => Shares => Topic started by: TheKwok on June 14, 2013, 04:06:44 pm

Title: Naspers (NPN) - reaching all time high?
Post by: TheKwok on June 14, 2013, 04:06:44 pm
This one looks overcooked even with the recent Trading Update

https://sites.google.com/site/sasharingshares/ (https://sites.google.com/site/sasharingshares/)
Title: Re: Naspers (NPN)
Post by: Orca on June 14, 2013, 06:29:42 pm
She is over valued or Fully Valued but might keep going up as today she was voted as one of the top 5 SA stocks.
Title: Re: Naspers (NPN)
Post by: peanut on June 18, 2013, 11:43:22 am
http://markets.ft.com/Research/Markets/Tearsheets/Forecasts?s=NPN:JNB
Quote
As of Jun 17, 2013, the consensus forecast amongst 14 polled investment analysts covering Naspers Limited advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on Oct 21, 2011. The previous consensus forecast advised investors to purchase equity in Naspers Limited.

Latest recommendation
Buy   6
Outperform   5
Hold   2
Underperform   1
Sell   0
No opinion   0
Title: Re: Naspers (NPN)
Post by: Moneypenny on July 15, 2013, 10:26:33 am
JSE-listed media and internet firm Naspers has announced a bond offering priced at US$750 million, with the proceeds to be used to pay for future acquisitions, among other things.

http://businesstech.co.za/news/general/41913/naspers-raising-750m-for-acquisitions/
Title: Re: Naspers (NPN)
Post by: Moneypenny on July 30, 2013, 09:55:12 am
Man, I like this one a lot. :-*

July 30 (Reuters) – Naspers Ltd <NPNJn.J>:

Morgan Stanley raises price target to 870 rand from 763 rand; rating overweight
Title: Re: Naspers (NPN)
Post by: Moonraker on August 03, 2013, 02:35:48 pm
Man, I like this one a lot. :-*

July 30 (Reuters) – Naspers Ltd <NPNJn.J>:

Morgan Stanley raises price target to 870 rand from 763 rand; rating overweight

He..he..he. That's my signal not to buy.  ;)

Over exuberance, PE ± 47, earnings definitely not keeping up with the share price. See the SOL comparison below. Also got lucky due to weakening Rand. Waiting for PE @ 30/35

Quote
Element Investment Managers points out that Sasol’s current earnings, underpinning its R30bn market cap, are approximately R28bn compared with Naspers’s earnings of below R7bn. Even using the “core” earnings figure of R9.2bn presented by Naspers’s management instead of the International Financial Reporting Standards figures, the comparatively low level of earnings underpin remains stark.

“Whichever of the earnings figures we use for Naspers, Sasol is still earning three times more, yet investors are pricing Naspers today as worth more than Sasol,” Element Investment Managers said, adding that Naspers was a good quality company and had been innovative in many spheres. “But the margin of safety does not appear to be there to warrant an investment at this point.

Naspers’s trajectory propels it to top 10 (http://www.iol.co.za/business/business-news/naspers-s-trajectory-propels-it-to-top-10-1.1554558#.Ufzz_efAEbw)

Also Bekker's 'remuneration' scheme is definitely way over generous ( over 5 yrs. would make W. Basson think that he is on social grants).
Quote
At a current price of R795, the 11.7 million shares that Bekker was awarded as remuneration for the five years to the end of March are worth R9.3bn. The cost to Bekker of the shares is just over R2bn.

This puts the value of his remuneration package significantly ahead of any other executive on the JSE, including executives of companies that have their primary listing on an international bourse.

Salary-less Bekker.. (http://www.iol.co.za/business/business-news/salary-less-bekker-is-r7bn-richer-over-five-years-1.1553894#.Ufz0w-fAEbw)
Title: Re: Naspers (NPN)
Post by: Moneypenny on August 06, 2013, 07:50:35 am
This puts the value of his remuneration package significantly ahead of any other executive on the JSE

You pay peanuts, you get monkeys. ;)
Title: Re: Naspers (NPN)
Post by: Moonraker on August 14, 2013, 02:38:28 pm
The reason for NPN's drop today ..
Tencent misses estimates (http://www.bloomberg.com/news/2013-08-14/tencent-profit-misses-estimates-on-boost-to-wechat-marketing.html)

If you consider buying for the long term like me, take into account :-

Quote
“E-commerce is growing at a rapid rate, it’s a low margin business,” Billy Leung, an analyst at RHB Research Institute Sdn. in Hong Kong, said by phone before the earnings. “If there’s any down tick in the e-commerce margins, that could drive down the bottom line. E-commerce is a double-edged sword.”
  :-X
Title: Re: Naspers (NPN)
Post by: Moneypenny on August 15, 2013, 07:58:42 am
I'm not too concerned, NAS diversified with e-commerce, pay-tv, related tech and print media.  Tencent & Mail.ru represent minority investments in social media platform, no biggie.
Title: Re: Naspers (NPN)
Post by: Moneypenny on September 10, 2013, 12:22:22 pm
An hour ago Naspers hit R901.99 per share, must be an all time high, not too shabby.
Title: Re: Naspers (NPN)
Post by: Moneypenny on September 17, 2013, 11:41:01 am
Anybody for a glass of Chardonnay? 
That's why we are moving towards R1000/share:


Naspers gaan nou ook fynproewerprodukte en topgehalte-wyn aanlyn verkoop.

Hy het in Mei deur sy filiaal MIH Internet Africa ’n meerderheidsbelang in die webwerf 5ounces.co.za gekoop.

Trevor Gosling, stigter van 5ounces, sê Naspers – wat kalahari.com besit – was tot nou nie by die aanlyn verkope van dié produkte betrokke nie.

Hy het die maatskappy in Januarie 2012 begin en tans verskaf 5ounces permanente werk aan agt mense.

“Een van die goed wat ons anders maak, is blitsverkope van premie-produkte,” sê hy.

Dit is ’n verwysing na ’n konsep wat die aanlyn verkoper Groupon begin het om “ ’n beperkte hoeveelheid produkte vir ’n beperkte tyd teen ’n superafslagprys beskikbaar te stel’’, verduidelik hy. “Ons doen dit met vier- of vyfster-wyne en klante kan dit dan teen tussen 40% en 50% van die tipiese kleinhandelprys kry.”

Arthur Goldstuck, besturende direkteur van World Wide Worx, sê aanlyn wynverkope is een van die moontlike groeigebiede in e-handel. “Wat dit so volhoubaar maak, is dat ’n veel wyer verskeidenheid wyn aanlyn aangebied kan word as in ’n winkel.”

Naspers het in e-handelwebwerwe oral in ontluikende markte belê. “Hy is deurlopend op soek na nismarkte om in uit te brei. “Kalahari.com het ’n bietjie van ’n stagnante sakemodel geword en dit is nodig om dit te verfris. Een manier om dit te doen, is om opwindende nismarkte te identifiseer (soos wyn).”

Volgens Kevin Kidson, stigter en besturende direkteur van wine.co.za, wat sowat 15 jaar gelede begin is, groei aanlyn wynverkope wêreldwyd en ook in Suid-Afrika besonder vinnig. – Nellie Brand-Jonker Maandag 16 September 2013 Volksblad
Title: Re: Naspers (NPN)
Post by: Moneypenny on October 21, 2013, 08:29:18 am
'Tencent Holdings, Asia biggest Internet company, surged to a record in Hong Kong trading after analysts at Barclays Plc named it among its top picks in China's on-line sector. 

The shares rose 4.9%, headed for the largest gain since 20 May, giving it a market value of $108 billion.
'   21 Oct 2013, 5:29am, Lulu Yilun Chen, Bloomberg.


C'mon Naspers, show me your teeth. >:D
Title: Re: Naspers (NPN)
Post by: cknt on October 21, 2013, 09:07:55 am
She is over valued or Fully Valued but might keep going up as today she was voted as one of the top 5 SA stocks.

Which are the others?
Title: Re: Naspers (NPN)
Post by: Orca on October 21, 2013, 09:38:43 am
NPN was being discussed on Business News and the others were not mentioned.
Title: Re: Naspers (NPN)
Post by: Aragorn on October 21, 2013, 03:49:20 pm
'Tencent Holdings, Asia biggest Internet company, surged to a record in Hong Kong trading after analysts at Barclays Plc named it among its top picks in China's on-line sector. 

The shares rose 4.9%, headed for the largest gain since 20 May, giving it a market value of $108 billion.
'   21 Oct 2013, 5:29am, Lulu Yilun Chen, Bloomberg.


C'mon Naspers, show me your teeth. >:D

Took off like a rocket reaching above 985, then gently parachuted down again below 960
Title: Re: Naspers (NPN)
Post by: Moonraker on November 26, 2013, 09:19:31 am
Naspers Full-Year Earnings to Be Hurt by Higher Spending (http://www.bloomberg.com/news/2013-11-26/naspers-full-year-earnings-to-be-hurt-by-higher-spending.html)

Due to development spend.
Title: Re: Naspers (NPN)
Post by: Aragorn on December 06, 2013, 09:30:09 am
 :TU:
Broke the R1000.00 barrier today!!!!
Where to now?
Title: Re: Naspers (NPN)
Post by: Orca on December 06, 2013, 11:09:57 am
Back down pal. Left a gap that has to be filled. Three days ago she went down to fill that other gap.
Title: Re: Naspers (NPN)
Post by: Orca on December 06, 2013, 06:09:42 pm
Geez. That was a quick fill today and then back up again.
Title: Re: Naspers (NPN)
Post by: Moneypenny on January 15, 2014, 09:17:31 am
Naspers historically:

1 Jan 2012  35350
1 Jan 2013  54720
1 Jan 2014 110987

Today 112650
Title: Re: Naspers (NPN)
Post by: Moneypenny on February 19, 2014, 11:51:06 am
All time high as at 17/2/14 : 1275
Yesterday: 1292
Today’s high: 1304

Latest news courtesy Bloomberg today @10:33

Tencent Holdings Ltd. (700) bought a 20 percent stake in the owner of China’s Dianping.com, a Yelp-like website, as Asia’s largest Internet company boosts location-based services.

Huai River Investment Ltd., a wholly owned unit of Tencent, will buy new shares in Dianping Holdings Ltd., according to a Hong Kong exchange filing today. Tencent may invest as much as $500 million in Dianping, Sina.com reported Feb. 17 without saying where it got the information.

The acquisition will let Tencent tap into Dianping’s nearly 100 million monthly active users who access the website’s reviews and discounts for food and entertainment. Shenzhen, China-based Tencent is competing with Alibaba Group Holding Ltd. to offer location-based shopping and entertainment services in a market where more than 500 million users accessed the Internet from mobile phones last year.

Dianping.com is China’s largest website for location-based food and entertainment services similar to those of Yelp Inc. (YELP) and Groupon Inc. (GRPN)

The company, backed by Sequoia Capital Operations LLC and Lightspeed Venture Partners, was founded in 2003 in Shanghai and offers local business-search services that include consumer-generated reviews.
Title: Re: Naspers (NPN)
Post by: Moonraker on April 03, 2014, 02:11:55 pm
ADI vs. NPN YTD

Title: Re: Naspers (NPN)
Post by: jaDEB on April 03, 2014, 02:35:58 pm
 >:(
Title: Re: Naspers (NPN)
Post by: Aragorn on April 04, 2014, 01:45:51 pm
NPN's volatility over the past 3 months has been scary. Looking back over historical charts, it's never been this volitile. Look at all the gaps created over the past 3 months... In the comp (my only share is NPN), I have been in the top 20 one day, then in the bottom 20 the next (currently sitting @ position 244/264, but bought some more today as well.... :whistle:). I also hold a position in my real LT portfolio (c 11%), and fortunatly still well in the green as I bought mid last year. But I'm starting to get the feeling that the price will soon drop below the R1000 mark. What I find weird is that it tends to track the Tencent movement continually, but Tencent is only 30% of NPN's holdings. Is there no faith in the balance of the holdings?
Title: Re: Naspers (NPN)
Post by: Moonraker on April 04, 2014, 02:24:23 pm
NPN's volatility over the past 3 months has been scary. Looking back over historical charts, it's never been this volitile. Look at all the gaps created over the past 3 months... In the comp (my only share is NPN), I have been in the top 20 one day, then in the bottom 20 the next (currently sitting @ position 244/264, but bought some more today as well.... :whistle:). I also hold a position in my real LT portfolio (c 11%), and fortunatly still well in the green as I bought mid last year. But I'm starting to get the feeling that the price will soon drop below the R1000 mark. What I find weird is that it tends to track the Tencent movement continually, but Tencent is only 30% of NPN's holdings. Is there no faith in the balance of the holdings?
Simply overvalued, hence profit taking.
Quote
The value of the Tencent and Mail.ru stakes now equal the market capitalisation of Naspers itself and, for the interims, they contributed 97.3% to core headline earnings. Although this is more of a passing IFRS quirk than a realistic reflection of Naspers’ other interests, it does imply that, if you are happy with the current market valuations of Tencent and Mail.ru, Naspers is a Buy.
.. and competition by the likes of Alibaba... Tencent Sinks Amid Biggest Stock Swings Since 2011 (http://www.bloomberg.com/news/2014-04-04/tencent-sinks-amid-biggest-stock-swings-since-2011.html)
Title: Re: Naspers (NPN)
Post by: jaDEB on August 11, 2014, 05:36:23 pm
NPN has a PE of 90. Anybody knows why so high ?
Title: Re: Naspers (NPN)
Post by: Moneypenny on August 13, 2014, 10:42:05 am
As Moon said:


‘NPN downgraded to ‘BB’ (from BBB) & to 'B' (from F3) reflecting deterioration in group’s profitability mainly due to its high development spending.’

‘Visibly the future cash flow generation is limited.’

‘Outlook stable’

Debt cut to ‘junk’ status.

www.fitchratings.com/creditdesk/reports_frame.cfm?rpt_id=749393



Currently trading 140799
Title: Re: Naspers (NPN)
Post by: Moneypenny on August 13, 2014, 11:31:21 am
Trading @ 146034 (+3.00%). Why the sudden interest around 11:00?

Title: Re: Naspers (NPN)
Post by: jaDEB on August 13, 2014, 11:33:04 am
Trading @ 146034 (+3.00%). Why the sudden interest around 11:00?

Duhh ..... cause we are talking about it ...... Fund managers read our posts.....  :laugh:
Title: Re: Naspers (NPN)
Post by: Moneypenny on August 13, 2014, 11:38:04 am
Touché ;D  what should we talk about next?
Title: Re: Naspers (NPN)
Post by: Peter01 on August 13, 2014, 11:50:37 am
Would anyone buy now? Seems overvalued at this point??  ::)
Title: Re: Naspers (NPN)
Post by: jaDEB on August 27, 2014, 08:47:40 am

Rating Action:
Moody's assigns A3 to Tencent's $2.5 billion Medium Term Notes
 






 Global Credit Research - 23 Apr 2014








Hong Kong, April 23, 2014 -- Moody's Investors Service has assigned an A3 rating to Tencent Holdings Limited's US$2.5 billion Medium Term Notes drawn under its US$5 billion GMTN programme.
 


The rating outlook is stable.



RATINGS RATIONALE



"The drawdown of the GMTN programme will further enhance Tencent's already strong liquidity, enabling the company to sustain a steady growth trajectory in revenue and cash flow," says Lina Choi, a Moody's Vice President and Senior Analyst.
 


Tencent enjoys material and sustainable revenue contribution from its highly competitive online games products, which account for more than 50% of total revenue. Over the past two years, its online games revenue has grown by 35%-45%, due primarily to its diverse game portfolio with in-house and licensed titles.
 


"The additional debt will not affect Tencent's A3 credit profile and will substantiate its financial flexibility," adds Choi, also the Lead Analyst for Tencent.
 


Supported by its steadily growing operating cash flow, Tencent's adjusted debt/EBITDA of 0.9x at end-2013 combined with its US$6.6 billion net cash position is strong when compared with most A3-rated peers.
 


After the company issues the US$2.5 billion Medium Term Notes, Moody's expects it will maintain a strong net cash position and adjusted debt/EBITDA at around 1.0x-1.75x over the next 12-18 months, which is consistent with its A3 rating.
 


The stable outlook reflects Moody's expectation that Tencent will maintain its strong financial profile and leadership in China's internet market, while pursuing acquisition opportunities to complement its business model.
 


While Moody's does not see near term upward pressure on the ratings, such pressure may arise if Tencent: (1) continues to achieve strong revenue and cash flow growth; (2) develops and monetizes new mobile products without substantial cannibalization of current revenue streams; and (3) maintains prudent financial management, as evidenced by strong credit metrics, such as debt/EBITDA below 0.5x-0.75x, and an overall net cash position.
 


Downward rating pressure could emerge if Tencent: (1) experiences sustained erosion in its active user base, affecting monetization and cash flow generation; (2) engages in aggressive acquisitions that pressure its balance sheet liquidity, or raises its overall risk profile; (3) undertakes an aggressive dividend policy that weakens its balance sheet liquidity, or there is evidence of cash leakage to its parent, or related companies; and/or (4) sees its credit profile weaken, with debt/EBITDA exceeding 1.5x-2.0x, and recording a net debt position.
 


Furthermore, adverse developments in the regulatory regime that could affect Tencent's operations or business model will be negative for the ratings.
 


Tencent Holdings Limited's ratings were assigned by evaluating factors that Moody's considers relevant to the credit profile of the issuer, such as the company's (i) business risk and competitive position compared with others within the industry; (ii) capital structure and financial risk; (iii) projected performance over the near to intermediate term; and (iv) management's track record and tolerance for risk. Moody's compared these attributes against other issuers both within and outside Tencent Holdings Limited's core industry and believes Tencent Holdings Limited's ratings are comparable to those of other issuers with similar credit risk.
 


Tencent Holdings Limited is a leading provider of comprehensive Internet services in China. It operates leading social networking services, online portals and online games platforms. Tencent is approximately 34%-owned by Naspers Limited (Baa3 stable).
 


REGULATORY DISCLOSURES



For ratings issued on a program, series or category/class of debt, this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the rating action on the support provider and in relation to each particular rating action for securities that derive their credit ratings from the support provider's credit rating. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.
 


For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this rating action, and whose ratings may change as a result of this rating action, the associated regulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.
 


Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.
 




Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.
 
Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating.
 
The first name below is the lead rating analyst for this Credit Rating and the last name below is the person primarily responsible for approving this Credit Rating.
 
Title: Re: Naspers (NPN)
Post by: Patrick on September 24, 2014, 01:25:15 pm
http://mybroadband.co.za/news/columns/110420-why-internet-solutions-wants-mweb-business.html
Title: Re: Naspers (NPN)
Post by: jaDEB on March 19, 2015, 09:03:56 am
SHENZHEN, China, March 18, 2015 /PRNewswire/ --Tencent Holdings Limited ("Tencent" or the "Company") (SEHK 00700), a leading provider of comprehensive Internet services in China, today announced the unaudited consolidated results for the fourth quarter of 2014 ("4Q2014") and audited consolidated results for the year ended December 31, 2014 ("FY2014").
FY2014 Key Highlights:
•   Total revenues were RMB78,932 million (USD12,899 million[1]), an increase of 31% over the year ended December 31, 2013 ("YoY").
•   Operating profit was RMB30,542 million (USD4,991 million), an increase of 59% YoY.   Operating margin increased to 39% from 32% last year.
•   Profit for the year was RMB23,888 (USD3,904 million), an increase of 53% YoY. Net margin increased to 30% from 26% last year.
•   Profit attributable to equity holders of the Company for the year was RMB23,810 million (USD3,891 million), an increase of 54% YoY.
•   Basic earnings per share2 were RMB2.579.  Diluted earnings per share2 were RMB2.545.
•   The Board has recommended a final dividend of HKD0.36 per share for FY2014 (2013: HKD1.20 per share before the effect of the Share Subdivision, or HKD0.24 per share after the effect of the Share Subdivision), subject to approval of the shareholders.
•   On a non-GAAP basis3, excluding share-based compensation, deemed disposal gains, amortization of intangible assets and impairment provision:
o   Operating profit was RMB30,497 million (USD4,984 million), an increase of 49% YoY.   Operating margin increased to 39% from 34% last year.
o   Profit for the year was RMB24,420 million (USD3,991 million), an increase of 42% YoY. Net margin increased to 31% from 28% last year.
o   Profit attributable to equity holders of the Company for the year was RMB24,224  million (USD3,959 million), an increase of 43% YoY.
o   Basic earnings per share was RMB2.624. Diluted earnings per share was RMB2.589.
[1] Figures stated in USD are based on USD1 to RMB6.1190
[2] EPS was stated after taking into account the effect of Share Subdivision. Comparative figures have been restated on the assumption that the Share Subdivision had been effective in prior periods.
[3] Since the first quarter of 2014, we have included gains/losses on disposals of investees and businesses in the non-GAAP adjustment. Comparative figures have been restated to conform to the new presentation.
4Q2014 Key Highlights:
•   Total revenues were RMB20,978 million (USD3,428 million), an increase of 24% over the fourth quarter of 2013 ("YoY").
•   Operating profit was RMB7,394 million (USD1,208 million), an increase of 56% YoY. Operating margin increased to 35% from 28% last year.
•   Profit for the period was RMB5,954 million (USD 973 million), an increase of 51% YoY. Net margin increased to 28% from 23% last year.
•   Profit attributable to equity holders of the Company for the quarter was RMB5,860 million (USD958 million), an increase of 50% YoY.
•   Basic earnings per share were RMB0.632. Diluted earnings per share were RMB0.625.
•   On a Non-GAAP basis, excluding share-based compensation, deemed disposal gains, amortization of intangible assets and impairment provision:
o   Operating profit was RMB8,068 million (USD1,319 million), an increase of 59% YoY.   Operating margin increased to 38% from 30% last year.
o   Profit for the quarter was RMB6,841 million (USD1,118 million), an increase of 52% YoY. Net margin increased to 33% from 26% last year.
o   Profit attributable to equity holders of the Company for the quarter was RMB6,723  million (USD1,099 million), an increase of 51% YoY.
o   Basic earnings per share was RMB0.725. Diluted earnings per share was RMB0.717.
Mr. Ma Huateng, Chairman and CEO of Tencent, said, "During 2014, we made significant progress in a number of strategic initiatives that reinforced our leadership and enhanced our competitiveness. Our social platforms QQ and Weixin continued to innovate and grow. By leveraging our expertise in mobile Internet, we extended our leadership in games and online media, and made breakthroughs in emerging platforms such as online security, Android appstore, and mobile payments. We implemented our "Connection" strategy, in which we organically link our large user base with appropriate content and services, and we built strategic relationships with numerous best-of-breed vertical partners, through investment and business cooperation. We believe this strategy will enable us to create superior experiences for our users, and to participate in the growth of vertical opportunities, as the mobile Internet increasingly penetrates consumers' daily lives."
4Q2014 Financial Review
Value Added Services ("VAS").  Revenues from our VAS business increased by 44% YoY to RMB17,137 million. Online game revenues increased by 41% to RMB11,964 million. The increase was primarily driven by significant growth in revenues from smart phone games integrated with Mobile QQ and Weixin, mainly reflecting our expanded user base, our enriched game portfolio and, to a lesser extent, the impact of the aforementioned adoption of gross revenue recognition. Revenues from PC client games also increased. Social networks revenues grew by 50% to RMB5,173 million. The increase was mainly driven by higher in-game item sales within mobile platforms, as well as by subscription revenues from our QQ Membership, Super VIP, Qzone and digital content subscription services. If gross revenue recognition for smart phone games is adopted for the fourth quarter of 2013, revenues from our VAS business, online games, and social networks would have increased by 42%, 39% and 48% respectively for the fourth quarter of 2014.
Online advertising.  Revenues from our online advertising business increased by 75% YoY to RMB2,627 million. The increase primarily reflected revenue growth in video advertising as a result of more viewers and enhanced revenues from performance-based social advertising on mobile driven by Mobile Qzone and Weixin Official Accounts.
eCommerce transactions.  Revenues from our eCommerce transactions business decreased by 87% YoY to RMB446 million. The decline mainly reflected a traffic shift to JD.com following our strategic transaction with JD.com in March 2014, and the repositioning of our Yixun business from principal to marketplace operations.
Other Key Financial Information for 4Q2014
Share-based compensation was RMB644 million, up 39% YoY.
EBITDA was RMB7,929 million, up 53% YoY. Adjusted EBITDA was RMB8,424 million, up 54% YoY.
Capital expenditure was RMB1,603 million, down 5% YoY.
Free cashflow was RMB9,181 million, up 76% YoY.
Net cash position totaled RMB22,758 million, down 37% YoY, due to strategic investments, partly offset by an increase in free cash flows generated during the year.  Fair value of our stakes in listed investee companies (both associates and available-for-sale financial assets) totalled RMB60 billion as at December 31 2014.
Strategic Highlights
In 2014, we focused on our "Connection" strategy, linking our users with content, services and hardware to enhance their lives online and offline. Leveraging our core communications and social platforms, Weixin, and Mobile QQ, we made significant progress in fostering a healthy mobile ecosystem which provides our users with an expanding range of products and services, taking advantage of our strengths such as unified login, users' social graphs, multi-platform marketing capabilities, infrastructure support, payment solutions and insights into user needs.
During the year, we moved forward in monetising mobile Internet use, initially through smart phone games and performance-based social advertising. We invested heavily in content for businesses such as our literature service, music service, and video service, contributing to substantial traffic growth. Our portfolio of mobile utilities, including mobile security, browser and application store, achieved healthy market share gains. For example, YingYongBao became one of China's leading Android application stores. We significantly expanded the user bases of our mobile payment platforms and we explored Internet finance opportunities with the launch of our wealth management platform and the inception of our bank affiliate, WeBank.
To complement our internal initiatives, we entered into a strategic transaction with JD.com to reposition our eCommerce business, and we continue to enrich our O2O ecosystem by making strategic investments in and partnering with industry leaders, including 58.com, Dianping, Dididache and Koudai Gouwu.
•   From consumers' perspective, we believe these and other partnerships enable our users to benefit from an expanding range of high quality products and services.
•   From partners' perspective, we believe our user activity is starting to contribute materially to our partners' long-term growth. For example, we believe we direct substantial volumes of traffic to JD.com and 58.com.
•   From our perspective, partnerships free up our internal resources to focus on the core strengths of our platforms, while enabling us to continue to benefit financially from the growth potential of the underlying industries via our significant equity stakes in partners.
In terms of balance sheet management, we established a USD5 billion global medium term note programme in April 2014 and subsequently issued various tranches of senior notes, with an aggregate principal amount of USD4.9 billion at the end of February 2015. We received a credit ratings upgrade from Moody's on our issuer and senior unsecured debt ratings from Baa1 to A3 in March 2014.
Business Review and Outlook
Divisional and Product Highlights
•   Key platform statistics:
o   Monthly active user accounts ("MAU") of QQ was 815 million, an increase of 1% YoY.
o   Smart device MAU of QQ was 576 million, an increase of 33% YoY.
o   Peak concurrent user accounts ("PCU") of QQ was 217 million, an increase of 21% YoY.
o   Combined MAU of Weixin and WeChat were 500 million, an increase of 41% YoY.
o   MAU of Qzone was 654 million, an increase of 5% YoY.
o   Smart device MAU of Qzone was 540 million, an increase of 30% YoY.
o   Fee-based VAS registered subscriptions were 84 million, a decrease of 6% YoY.
Key Platforms
In 2014, QQ and Qzone benefited from significant growth in China's mobile user base, and consolidated their leading positions in communications and social networking.
•   For QQ, smart device MAU increased by 33% YoY to 576 million at the end of 2014, while overall PCU increased by 21% YoY to 217 million. During the year, we enhanced user engagement on Mobile QQ as we improved its community and sharing functions. We also cultivated an ecosystem for Mobile QQ users by integrating with O2O and other new services, including those provided by our strategic partners, and introducing Mobile QQ Wallet.
•   For Qzone, smart device MAU increased by 30% YoY to 540 million at the end of 2014. User activity and stickiness improved during the year, benefiting from enhanced features and improved user experience.
Combined MAU of Weixin and WeChat reached 500 million at the end of 2014, representing YoY growth of 41%.
•   For Weixin, we strengthened user interaction and engagement with new features and services, and increased the adoption of Weixin Official Accounts.
•   For WeChat, we continued to promote user engagement in selected overseas markets, especially emerging Asian markets.
The aggregate number of user accounts that have integrated bank cards with Mobile QQ Wallet and Weixin Payment exceeded 100 million as we enriched payment scenarios and launched initiatives to build user awareness and habit, such as Red Packet gifting.
Our online media platforms extended their leadership in China. Tencent News leveraged enhanced content, improved user experience and plug-ins to Mobile QQ and Weixin to achieve significant user growth and became the leading mobile news platform in China. Tencent Video improved its market position with a strong uplift in user base and traffic, thanks to enriched content and improved user experience.
VAS
In social networks, our business benefited from significant growth in in-game item sales on our mobile platforms, and higher subscription revenues as we enhanced the mobile privileges and mobile user experience for QQ Membership, Super VIP and Qzone subscription service. We also added more premium content for our literature, music, and video subscription services.
In online games, we extended our leadership in the China market from PC to mobile.
•   For PC client games, revenue increased in 2014 as we benefited from growth in major titles and launch of new titles. League of Legends delivered a robust performance with significant growth in users and revenues.
•   For mobile games, we achieved strong revenue growth during 2014, becoming the largest publisher in China and one of the largest globally. Through the year, we diversified our portfolio of smart phone games from casual to mid-core and self-developed to third-party, enriching the choices available to users.
Looking ahead, we aim to diversify and capitalize on our strong title pipeline for PC and mobile games to penetrate into new genres and solidify our market leadership.
Online Advertising
In 2014, our online advertising business benefited from revenue growth across the brand display and performance display categories. During the year, video advertising registered a robust revenue increase due to viewer traffic growth, including traffic arising from the Voice of China 3 program and FIFA World Cup content. We made significant progress in mobile advertising on Mobile Qzone and Weixin Official Accounts. Looking forward, we aim to allocate more inventory toward performance advertising, including inventory on Weixin Moments and YingYongBao. We continue to invest aggressively in video content to further build our traffic, including our recent exclusive partnerships with the HBO and NBA.
eCommerce Transactions
Our eCommerce transaction business underwent a strategy transition subsequent to our strategic transaction with JD.com in March 2014. Shifting our traffic to JD.com led to a substantial reduction in our eCommerce revenues, costs, and losses. Looking forward, we believe the strategy transition enables us to benefit more efficiently from the growth of eCommerce in China via our significant equity stakes in best-in-class eCommerce companies such as JD.com, and via generating performance-based advertising revenues from eCommerce advertisers.
Outlook and strategies for 2015
During 2015, in addition to developing our ongoing businesses, we intend to cultivate an increasingly vibrant mobile ecosystem, bringing our own and our partners' products and services to China consumers. Key aspects of cultivating this ecosystem include:
•   Working with existing and prospective strategic partners in various verticals to deliver better O2O and transactional services to users;
•   Developing our digital content businesses in partnership with key content providers, such as online literature authors, the HBO, NBA, Sony Music, Warner Music, and YG Entertainment;
•   Growing our performance-based advertising business by adding more mobile advertising inventory, enhancing advertiser tools, and expanding our advertiser base, all while balancing user experience; and
•   Promoting use of our payment services through enriched payment scenarios.
For other detailed disclosure, please refer to our website www.tencent.com/ir.
About Tencent
Tencent uses technology to enrich the lives of Internet users. Every day, hundreds of millions of people communicate, share experiences, consume information and seek entertainment through our integrated platforms. Tencent's diversified services include QQ, Weixin/ WeChat for communications; Qzone for social networking; QQ Game Platform for online games; QQ.com and Tencent News for information and Tencent Video for video content.
Tencent was founded in Shenzhen in 1998 and went public on the Main Board of the Hong Kong Stock Exchange in 2004. The Company is one of the constituent stocks of the Hang Seng Index. Tencent seeks to evolve with the Internet by investing in innovation, providing a hospitable environment for partners, and staying close to users.
Title: Re: Naspers (NPN)
Post by: Moonraker on March 19, 2015, 03:20:24 pm
Wow. What can I say. Kicking myself for not having got in @750R when I thought it was overpriced. Congrats to Monsieur JaDEB if you have it.
Title: Re: Naspers (NPN)
Post by: jaDEB on March 19, 2015, 04:29:46 pm
I thought u had NPN and u bought at R800, my portfolio is 48% NPN, bought at R1257 & R1678. But I need to take tablets more often, I was under the impression you kinda introduced me to NPN ?
Title: Re: Naspers (NPN)
Post by: Patrick on March 20, 2015, 07:52:33 am
I thought u had NPN and u bought at R800, my portfolio is 48% NPN, bought at R1257 & R1678. But I need to take tablets more often, I was under the impression you kinda introduced me to NPN ?

 :TU: What a great investment jaDEB. What a great share!
Title: Re: Naspers (NPN)
Post by: Alsie on March 20, 2015, 10:53:45 am
I found this some time ago
Title: Re: Naspers (NPN)
Post by: jaDEB on April 13, 2015, 05:49:20 pm
@ Maximillan,

NPN - my 10c  :LHST:

I like NPN, but I bought at lower levels. I will be keeping my NPN (3 years timeline currently). Go to Naspers.com and read and have a look, I feel that you have to have a IT company in your porfolio. But if I have not bought yet, I probably would still have bought now, it was fully valued from about R800 a share. But have a look at it, and make the call which ever you feel comfortable. Maybe join the competition and buy it there, then keep an eye on it. Also just remember,

Intention to list Novus Holdings Limited on the JSE Limited

NASPERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
Share code: NPN ISIN: ZAE000015889
("Naspers" or "the Group" or "the Company")



INTENTION TO LIST NOVUS HOLDINGS LIMITED (FORMERLY PAARL MEDIA GROUP PROPRIETARY LIMITED) ("NOVUS")
ON THE JSE LIMITED ("JSE")


Rationale

Media24 Holdings (Proprietary) Limited ("Media24"), a subsidiary of Naspers, has applied for a JSE listing
of Novus, a subsidiary of Media24. With an ever growing percentage of Novus's work now coming from
third parties, and Novus's continued diversification of its revenue streams, it is appropriate to list Novus
on the JSE. The listing will be effected via a private placement of Novus shares held by Media24.
Media24 will remain the majority shareholder of Novus.

Overview of Novus

Novus is a leader in the printing and manufacturing sectors. It operates eleven specialised printing plants
and one tissue plant across South Africa and provides a comprehensive range of products and services
nationally, as well as in other parts of Africa. In the financial year ended 31 March 2014 Novus achieved
revenues of R3,969 million and an operating profit R649 million.

Additional information

Novus will issue press releases with additional information in respect of the listing in due course. It is
expected that the listing will take place during March 2015.


Cape Town
18 February 2015


Investment Bank to Novus and Sponsor to Naspers
Investec Bank Limited
Title: Re: Naspers (NPN)
Post by: Patrick on April 13, 2015, 06:33:15 pm
http://www.moneyweb.co.za/news/companies-and-deals/is-naspers-now-the-most-important-share-on-the-jse/
Title: Re: Naspers (NPN)
Post by: Moneypenny on April 14, 2015, 06:44:34 am
Amen :)
Title: Re: Naspers (NPN)
Post by: jaDEB on April 14, 2015, 12:16:27 pm
http://www.moneyweb.co.za/news/companies-and-deals/trading-idea-it-might-just-be-time-to-short-naspers/

Traders on the JSE are facing an emotional dilemma: should they decide to take a bet that shares in JSE-listed media group Naspers are going to fall from R2 000?

The company has been an excellent investment, having returned 82% over the past 12 months. However the psychological R2 000 per share mark is proving a tough nut to crack, especially with concerns that Chinese subsidiary Tencent has been overpriced and that the market may well be suffering from Naspers fatigue. 

Asset manager Vestact makes the point in a recent note to clients:

“Take the Tencent market cap in Hong Kong, which right now is 1.58 trillion HKD. Naspers owns 33.85% of TenCent, that translates to 534 billion Hong Kong Dollars. One Hong Kong Dollar at the current exchange rate is 1.56 rand. So, quite simply, multiply 534 billion HKD by 1.56 and that equals 834.8 billion rand. Naspers had a market capitalisation of 813 billion rand at the open today, up 3.7% as I write this in early morning trade which equals 843 billion rand. The difference between what the stake in Tencent is worth, relative to what the JSE buyers are willing to pay is roughly 8 billion rand.

“Effectively, the South African asset management community is telling you that the people of Hong Kong, or the folks valuing Tencent on a 53 multiple are overpaying. With growth rates in the mid 30s, the PEG ratio is somewhere in the region of 1.43 times, which is starting to reach expensive levels.”

Stockbrokerage Imara SP Reid made a similar point with the share hit R1 198 last year and valued the share as “fully valued” and noted in a November 2014 note: “In our view the current results and ROE [return on equity] of 11% are, simply put, not good enough for the current stock price. “

According to analyst consensus forecast on FT.com, the share will “outperform” the market according to views from 18 polled analysts.

Naspers has been driven by a surge in Chinese stocks but analysts are raising concerns that equity markets are overcooked and it may pay to err on the side of caution in China.
Title: Re: Naspers (NPN)
Post by: Patrick on May 14, 2015, 11:37:14 am
http://www.moneyweb.co.za/news/companies-and-deals/naspers-trades-at-a-discount-to-tencent-stake/
Title: Re: Naspers (NPN)
Post by: Moonraker on May 21, 2015, 03:06:02 pm
Naspers  at these levels ? Comments from Sanlam Private Wealth ..

http://www.fin24.com/Tech/Companies/The-Naspers-dilemma-20150514
Title: Re: Naspers (NPN)
Post by: jaDEB on May 21, 2015, 04:11:48 pm
Thanks Mr Bond.  ::)

Title: Re: Naspers (NPN)
Post by: rjthomas on August 22, 2015, 12:12:33 pm
As you all may know Naspers cracked R2000 in April 2015 and is now back to R1621 (today). For those trying to understand the underlying value of the assets I recommend this detailed analysis: Naspers - The Best Asset Manager in Media and Internet services (http://seekingalpha.com/article/2954686-naspers-the-best-asset-manager-in-the-media-and-internet-services-space) by Lunga Bhengu.

I'm a South African living in China in 2015, and I can tell you Tencent is not slowing down. There is no direct competition, even from Alibaba, so essentially the company has a monopoly with QQ, Wechat and the mobile gaming services. You must remember Naspers has not sold one share of Tencent since the company listed and maintains a 34.5% ownership.

cheers
Ramon


Title: Re: Naspers (NPN)
Post by: Moonraker on September 04, 2015, 10:31:23 am
Alibaba is a barometer of the Chinese consumer (e-commerce). Has declined by 37% this year due to plunging consumer demand.
Tell me why NPN should not similarly be affected.

Title: Re: Naspers (NPN)
Post by: jaDEB on September 04, 2015, 01:29:55 pm
NPN owns 36 % of Ten Cents. 10c are down 21%. NPN is down 15% from high.
Title: Naspers vs Alibaba
Post by: rjthomas on September 10, 2015, 01:18:49 am
Alibaba is a barometer of the Chinese consumer (e-commerce). Has declined by 37% this year due to plunging consumer demand.
Tell me why NPN should not similarly be affected.

These are completely different business models. Alibaba is an online retail platform with B2B (Alibaba.com), B2C (Tmall.com) and C2C (Taobao.com) platforms. Its main income is from foreign trade companies in China, who pay for their listings and associated advertising and keyword optimisation, to get sales for their b2b stores on Alibaba.com while Tencent (Naspers 36% owned) primary income is from online and mobile gaming, content distribution and premium subscriptions, some online and mobile ads on Wechat.

It's my opinion that Tencent will continue to grow even if Alibaba's income drops because they are dependent on different factors.
Title: Re: Naspers (NPN)
Post by: jaDEB on September 10, 2015, 08:26:22 am
Also...

Tencent, one of the top Internet companies in China, launched the country’s first private online bank today. Called WeBank after Tencent’s popular messaging app WeChat, the financial institution is the first one in China to be based on the Internet.

Tencent Launches China’s First Private Online Bank
Posted Jan 4, 2015
Title: Naspers reaching all time high?
Post by: Samurai on October 21, 2015, 04:21:35 pm
Hi Guys, seems like Naspers is reaching close to its all time high (1 980,00) curretly as I write this at R1 972.36.
read on bloomberg that the chinese markets can expect to go through a growth period, assuming tencent is behind this this spurt :)
Title: Re: Naspers reaching all time high?
Post by: jaDEB on October 21, 2015, 05:39:19 pm
You are correct, Moneyweb shows R1980. I thought that it broke the R2000 level? a while ago, as far as I can remember it was big news....but my 2c.

I like NPN, everywhere you go everybody is either on Laptop or Phone, whats up, banking and so on, in smoke room, restaurants, strip clubs.

I like 10c and NPN, it seems that they and management knows what they are doing.

U can follow 10c on Yahoo finance Code 0700.HK

Title: Re: Naspers reaching all time high?
Post by: Nivek on October 22, 2015, 09:10:15 am
This is a few months old, but interesting reading.
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Samurai on October 22, 2015, 09:56:39 am
Thanks Nivek, very intresting read.
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on October 22, 2015, 10:09:22 am
Yes, Thanks Nivek.
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on October 23, 2015, 07:36:51 am
ThIs iS whY I iS keEpinG my NPN  :TU:

Alphabet worth $500 billion after earnings explosions

Alphabet Inc. GOOG, +1.43% GOOGL, +1.39%  Microsoft Corp. MSFT, +1.76%  and Amazon.com Inc. AMZN, +1.46%  spiked after their respective earnings reports Thursday afternoon, and all are headed for some fancy round numbers. Alphabet, which demolished expectations in the final quarter before changing its name from Google, easily topped record highs with a 9% gain in after-hours trading. That gain would make Alphabet one of only two companies on Wall Street worth more than $500 billion -- the other being Apple Inc. AAPL, +1.53% 
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on October 23, 2015, 07:52:57 am
Amazon.com, Google, and Microsoft all topped profit estimates last quarter, highlighting the widening gulf between companies that deliver computing via server-laden warehouses and a generation of latecomers to the cloud boom. Together, the three companies added more than $90 billion in market cap in after-hours trading following their earnings reports on Thursday.

The trio shares a reliance on technology that comes from powerful machines lashed together in bunkers the size of football fields. These data centers are capable of providing a broad range of services at a low cost—be it Microsoft's personal and business software, Amazon's e-commerce and computing power, or Google's Web search and advertising algorithms. Contrast that with technology firms, such as IBM, Hewlett-Packard, EMC, and Oracle, which are suffering from slowing growth or declines as cloud operators shun traditional hardware, software, and services.

Google, Microsoft, and Amazon get added revenue as they become sellers of computing power to a growing number of other companies on the hunt for low-cost alternatives. Compounding that, the large clouds don't buy as much hardware and software from traditional IT providers and also pull potential customers away by renting them the IT services they'd typically buy from IBM, HP, EMC, Oracle, and others.




"You are seeing the cloud shift everyone was talking about, and Microsoft and Amazon are benefiting from it," said Sid Parakh, a portfolio manager at Becker Capital Management, which has about $3 billion under management. "Oracle, IBM, even VMware are reporting very weak numbers and really no momentum in cloud."

Amazon reported sales on Thursday that beat analysts' estimates. Driving that performance was its Amazon Web Services division, which grew 78 percent from a year ago with sales of $2.09 billion. That helped the company report a profit when analysts had predicted a loss.

è
Microsoft, which is moving more users of Office and other corporate productivity tools to versions hosted online through its own server farms, reported profit and sales that also beat estimates. Revenue in a segment called "intelligent cloud" was $5.89 billion, exceeding an estimate of $5.72 billion based on the average of four analyst projections compiled by Bloomberg.

"While many companies are developing commercial cloud offerings, there are really only two driving enterprise cloud platform innovation at massive scale: Amazon and Microsoft," Microsoft Chief Executive Officer Satya Nadella said on a conference call discussing the company's results.




Don't count Google out. Its parent company Alphabet is selling more ads and keeping spending under control, fueling better-than-projected sales and profit last quarter, the company said on Thursday. That enabled it to continue beefing up its cloud division, Google CEO Sundar Pichai said on the earnings call. "We're investing a lot and playing for the long term," he said. "When I look at new customer adoption, we're seeing tremendous momentum."

At IBM, the future doesn't look so bright. Shares dropped to a five-year low after the company cut its profit forecast earlier this week. The company cited a looming global economic slowdown and a strong dollar as factors hurting its overseas business. Another issue, which the company didn't bring up, is that the biggest players in cloud build much of their own equipment and write much of their own code.

EMC, which agreed to merge with fellow legacy hardware company Dell, reported sales and earnings that met analysts’ relatively low expectations amid slowing demand for its storage devices. Hewlett-Packard recently partnered with Taipei's Foxconn Technology Group to produce low-cost servers to be sold to providers like Google and announced this week that it would shut down its own public cloud service by early 2016.

Even Oracle, which is known for the stability of its business in tough times, is running into trouble as sales of its new software and hardware fall while it tries to convert customers to the cloud. Earlier this month, Amazon announced a slew of tools and services designed to make it easier for businesses to move from Oracle's software to Amazon's own cloud.

There's no end in sight for this trend—or at least, that's what one of the early leaders thinks. "It just reflects a secular shift," said Google's Pichai. "Every business in the world is going to run on cloud eventually."
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Samurai on October 23, 2015, 08:34:43 am
Thanks JaDeB this was a mouthfull but very intresting analysis.
Also, I see both tencent and Mail.ru is higher this morning ,so perhaps NPN might breach the R2 000.00 benchmark.
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on October 23, 2015, 09:09:34 am
 :-X
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Samurai on October 23, 2015, 09:32:06 am
 :TU: Okay NPN just breach the 2000 level  :TU:
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on October 26, 2015, 08:07:34 am
Increased shareholding in leading Russian online classifieds platform South African-based global internet and media company, Naspers Limited (JSE: NPN.SJ and LSE: NPSN), today announced a US$1.2bn transaction to become the largest shareholder in Avito, the leading online classifieds platform in Russia. Naspers is buying shares from existing shareholders to increase its stake from 17.4% to 67.9% on a fully diluted basis
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Samurai on October 26, 2015, 07:51:57 pm
 :TU: yes NPN reach R2 055.00 closing at a new high, at this rate they might reach R2 100.00 by weekend  :TU:
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Samurai on November 24, 2015, 09:43:02 am
WOW trading as we speak at R2 212.49
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on November 24, 2015, 10:30:32 am
 ;)
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Nivek on November 24, 2015, 10:53:21 am
Smells like money (http://media.onsugar.com/files/2011/01/01/4/192/1922153/98c0e7526f537d86_her-money-perfume.jpg)
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Samurai on November 24, 2015, 10:56:08 am
Yip the gift that keeps on giving. Not buying just holding for me, wonder if this might be a mistake.
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on November 24, 2015, 12:43:33 pm
Yip the gift that keeps on giving. Not buying just holding for me, wonder if this might be a mistake.

True, only time will tell, but, imagine you had -

ACL
KIO
GLN
LON
AGL
HAR
SOL

List yours here....
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Samurai on November 24, 2015, 12:54:35 pm
Very true, remember KIO shocker. :mad:
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Moonraker on December 03, 2015, 01:52:26 pm
President Xi .. MOU's and Agreements on ZA visit.

Amongst those, one concerning NPN.

Cooperation Agreement between the China State Council Information Office and the
NASPERS Group SA.
The Cooperation Agreement between the China State Council Information Office and
the Naspers Group SA will promote and create a legal framework to improve
cooperation between South Africa and China to actively promote communication
between their media practitioners through mutual visits and exposure to local
media operations as well as co-produce or promote the co-production of media
products, exchange or promote the exchange of content of media products based on
a variety of media.

and comment by Alec Hogg..

Naspers is committing work closely with, and promote engagement between “media
practitioners” at Xi’s propaganda machine, the China State Council Information
Office. That is sure to go down like a lead balloon at 40 Heerengracht,
especially if Naspers management were to replicate China’s “censor in every
newsroom” approach. – Alec Hogg 
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on December 03, 2015, 05:38:28 pm
LAUNCH OF AN ACCELERATED BOOKBUILD OF UP TO US$2.5BN

1. Introduction

Naspers is launching a capital raising by way of a private placement to institutional investors, of
approximately 17.1 million new Naspers N ordinary shares (the “Shares”), to raise up to
US$2.5bn (the "Capital Raising"). The Shares will be issued under Naspers’s existing general
authority to issue shares for cash and pursuant to a vendor consideration placing.

2. Rationale for the Capital Raising and use of proceeds

The Capital Raising will provide Naspers with additional capacity to execute its successful
strategy of investing in high-growth internet and ecommerce companies with proven business
models, including Naspers’s proposed acquisition of Avito. On 23 October 2015, Naspers
announced that it had reached an agreement to increase its stake in Avito from 17.4% to 67.9%
for a consideration of US$1.2bn ("Avito Acquisition"). Since then, Naspers has received
approval from the South African Reserve Bank and the Russian Federal Antimonopoly Service
for the Avito acquisition, and Naspers expects such transaction to close before the end of this
calendar year.

Up to US$1.2bn of the Capital Raising will be raised under the vendor consideration placing and
these funds will be used to settle the cash consideration payable to vendors under the Avito
Acquisition.

Commenting on the Capital Raising, Bob van Dijk, the Chief Executive Officer of Naspers, said:
"As a company we are very proud of how we have grown Naspers into one of the leading multi-
national internet and media groups and the returns we have delivered to all of our stakeholders.
The Capital Raising will finance the Avito acquisition as well as provide us with the financial
flexibility to continue to deliver on our strategy of investing in high-growth internet and
ecommerce companies to continue to drive returns for our shareholders".
3. Launch of the bookbuild

The Capital Raising will take place at a price to be established through an accelerated
bookbuilding process to be conducted by Citigroup Global Markets Limited and Morgan Stanley
& Co. International plc acting as joint bookrunners (collectively, the “Joint Bookrunners”).

Bookbuilding will begin with immediate effect. The timing of the closing of the book, the pricing
of the Shares and the making of allocations are in the absolute discretion of Naspers and the
Joint Bookrunners.

Absa Bank Limited, acting through its Corporate and Investment Banking division, BNP Paribas
and ING Bank N.V. are acting as co-lead managers and Rand Merchant Bank, a division of
FirstRand Bank Limited is acting as co-manager (together with the Joint Bookrunners and the
co-lead managers the “Banks”).

The Shares will, when issued, be credited as fully paid and will rank pari passu in all respects
with the existing issued N ordinary shares of Naspers, including the right to receive future
dividends and other distributions declared after the date of their issue. Trading of the Shares on
the exchange operated by the JSE Limited (the "JSE") is expected to commence at the start of
trading, 5 business days after closing.

The bookbuild process will be subject to normal share trading practices, the relevant rules,
regulations and procedures of the JSE, applicable laws and regulations and the settlement
authority of Strate Proprietary Limited.



Cape Town
3 December 2015
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on December 04, 2015, 07:56:47 am
 ;)

RESULTS OF THE EQUITY CAPITAL RAISE

Investors are referred to the announcement released by Naspers through SENS and RNS on
3 December 2015 regarding Naspers’s launch of a capital raising of up to US$2.5bn (the
“Capital Raising”) by way of a private placement to institutional investors (the “Placing”).

Naspers is pleased to announce that it has successfully priced the Placing, raising gross
proceeds of US$2.5bn.

A total of 18,167,848 new Naspers N ordinary shares (the “Placing Shares”) were successfully
placed with qualifying institutional investors at a price of ZAR 1,975 per share. The Placing
Shares being issued represent approximately 4.3% of Naspers’s issued N ordinary share capital
prior to the Capital Raising.

Subject to approval by the JSE Limited (“JSE”), listing and trading of the Placing Shares is
expected to commence on 11 December 2015.

The Placing Shares, when issued, will be fully paid and will rank pari passu in all respects with
the existing N ordinary shares in the share capital of Naspers, including the right to receive all
dividends and other distributions declared, after the date of issue of the Placing Shares.


Cape Town
4 December 2015
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Samurai on December 04, 2015, 08:45:06 am
Will this mean that the price might drop in the next few days? If so assuming one must stock up on NPN if one can afford them.
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on December 04, 2015, 09:20:21 am
Down to 1975 as per capital raise, better than LON  :-*
Title: Re: Naspers (NPN) - reaching all time high?
Post by: rjthomas on August 11, 2017, 04:07:17 pm
Yesterday I sold my 4 Naspers shares @  ZAR 2885.01 because of a cash flow emergency. My profit was about 21% since purchasing them 3 months ago. Today the price is R2750.86 and I am thinking of buying again because of the solid growth indicators and income from Tencent and other international sources.
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Maurice on September 28, 2017, 12:35:07 pm
How is the Investor Challenge going to handle the Novus unbundling from Naspers?
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Bundu on June 11, 2019, 01:29:17 pm
very quiet here...... 8)

any thoughts on the NPN/Newco split?
Take more NPN or take Newco?
Tax implications?
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Moonraker on June 11, 2019, 04:07:05 pm
Quote
In terms of the proposal, shareholders will receive new Naspers M-shares as a
capitalisation issue, which do not have immediate tax liabilities. Capitalisation shares
are exempt from dividend tax, but CGT become payable whenever the shares are sold.
The circular states that the initial cost of these shares for the purposes of CGT will be
deemed to be nil, meaning that the full value of the shares will attract CGT whenever a
shareholder sells them. The M-shares are automatically replaced by NewCo shares,
which is effectively seen as two separate transactions: the sale of M-shares and the
purchase of NewCo shares

Pity about the CGT implications when opting for the M shares, but we should all have losses carried forward
to deduct from that gain. :-X  ;)
No CGT on Naspers N.
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Bundu on June 11, 2019, 04:43:25 pm
thanks Moonraker  :TU:

what I find a bit weird, is that the normal NPN share should drop when Newco splits off, how come that drop is not discounted and the full value of the new shares are taxed? or am I missing something?

I think I'm gonna take the Newco shares, even if it means an immediate tax burden........  :money:
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on June 12, 2019, 04:53:58 pm
I also will take Newco option on mine.  :whistle:
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Bundu on July 04, 2019, 12:08:01 pm
I also will take Newco option on mine.  :whistle:

do you know how the tax will be calculated if one goes the Prosus route?

I assume one will retain your old NPNn shares
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on July 09, 2019, 08:26:21 am
If you take Prosus you pay capital gains tax. I am Keeping NPN, as I do not want to be Taxed, I will sell NPN slowly over the years to ensure I minimize capital gains tax. On my Smaller portfolio I will take Prosus and pay capital gains tax.

I looked and NPN will own a big % of Prosus, thus I actually do not see why Prosus would be such a good choice. However my decision is also based on the fact that I already own offshore, Tencent, Amazon and Netflix. I buy offshore every Tax year.

Title: Re: Naspers (NPN) - reaching all time high?
Post by: Bundu on July 09, 2019, 11:33:02 am
I saw this yesterday - so with the default option, one keeps your NPNn shares and gets Newco/Prosus shares
I still don't understand where the CGT comes in?

Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on July 09, 2019, 01:03:17 pm
The Newco shares will be pure Profit, i.e if you get R100,000 worth of Newco, that will be applicable to CGT as if you sold NPN.

That is my understanding and I based my decision on that.

In terms of the proposal, shareholders will receive new Naspers M-shares as a capitalisation issue, which do not have immediate tax liabilities. Capitalisation shares are exempt from dividend tax, but CGT become payable whenever the shares are sold

The circular states that the initial cost of these shares for the purposes of CGT will be deemed to be nil, meaning that the full value of the shares will attract CGT whenever a shareholder sells them. The M-shares are automatically replaced by NewCo shares, which is effectively seen as two separate transactions: the sale of M-shares and the purchase of NewCo shares.

Title: Re: Naspers (NPN) - reaching all time high?
Post by: Bundu on July 09, 2019, 01:40:05 pm
The Newco shares will be pure Profit, i.e if you get R100,000 worth of Newco, that will be applicable to CGT as if you sold NPN.

That is my understanding and I based my decision on that.

In terms of the proposal, shareholders will receive new Naspers M-shares as a capitalisation issue, which do not have immediate tax liabilities. Capitalisation shares are exempt from dividend tax, but CGT become payable whenever the shares are sold

The circular states that the initial cost of these shares for the purposes of CGT will be deemed to be nil, meaning that the full value of the shares will attract CGT whenever a shareholder sells them. The M-shares are automatically replaced by NewCo shares, which is effectively seen as two separate transactions: the sale of M-shares and the purchase of NewCo shares.

Aaah OK, that makes sense now, but what will my NPN base cost be after the transaction, seeing that the NPN share price will drop, probably by about 25% of the Newco market cap (I think......)?
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on July 09, 2019, 01:56:30 pm
You take your Total Valued paid for your NPN Shares say you bought 100 at R 1000 total (imagine  :wall:), now you have 120 (new Quantity) bought at R 1000 total.

Please note I only have Standard 6 Lower grade maths.
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Bundu on July 09, 2019, 08:41:49 pm
You take your Total Valued paid for your NPN Shares say you bought 100 at R 1000 total (imagine  :wall:), now you have 120 (new Quantity) bought at R 1000 total.

Please note I only have Standard 6 Lower grade maths.

yes, that's probably if you choose to take more NPN, but I'm wondering if one takes Newco.... I'll get fully taxed on the total value of Newco and thereafter on the gain above the launch price and my base cost for NPN will remain the same?

I wish there was a simple document that explains all these options and consequences
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on July 10, 2019, 08:02:22 am
Correct, that is how I also read it.  I was taught, first make your Investment decision, then, only then, do you look at tax implication. Do not let CGT be the start point, your investment 1st, then Tax. It is at this point Patrick starts getting upset and start shouting at me.  :) .

Go . . . . .  :whistle:
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Bundu on July 10, 2019, 11:09:47 am
Correct, that is how I also read it.  I was taught, first make your Investment decision, then, only then, do you look at tax implication. Do not let CGT be the start point, your investment 1st, then Tax. It is at this point Patrick starts getting upset and start shouting at me.  :) .

Go . . . . .  :whistle:
@jaDEB read the below article and maybe reconsider your strategy? It also explains the tax implication better

https://mayaonmoney.co.za/2019/07/nasperss-euronext-listing-plan-a-sting-in-the-tail-for-retail-investors/
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on July 10, 2019, 02:51:09 pm
I want to keep Nasper, as u still have 75 % of Newco + Takealot ? Am I wrong ?
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Patrick on July 10, 2019, 03:08:13 pm
Do not let CGT be the start point, your investment 1st, then Tax. It is at this point Patrick starts getting upset and start shouting at me.  :) .

Go . . . . .  :whistle:
I actually agree on this one, though at some point CGT becomes a real nightmare. I'm looking at hundreds of thousands when I eventually financially emigrate  :'( :'( :'(
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Bundu on July 10, 2019, 03:30:46 pm
I want to keep Nasper, as u still have 75 % of Newco + Takealot ? Am I wrong ?

with the default option you do keep your NPN and get Prosus? don't you?

with the other option, you just get about 37% more NPN and no Prosus
Title: Re: Naspers (NPN) - reaching all time high?
Post by: jaDEB on July 10, 2019, 04:38:57 pm
True, but Naspers will still own 75% of Prosus.
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Johann Groenewald on July 17, 2019, 03:53:01 pm
Sorry if this is an idiot question, but...

If I own Naspers and opt to take the Prosus shares when the time comes then the following questions come up:

I get shares which is now domiciled in the Netherlands, how does this affect my will? And tax reporting down the line.

My current broker account only deals with JSE shares, do I need a new broker account which allows me to hold Euronext shares?

I assume because you get the shares, you are not actually moving capital out of ZA - or are you, and then how does that affect your annual allowance (not that I have that many but the question is theoretical)

As for CGT, there is Steinhoff for the offset :LHST:
Title: Re: Naspers (NPN) - reaching all time high?
Post by: Bundu on July 17, 2019, 05:08:51 pm
the way I understand it, is that you will get Prosus shares that will be listed on the JSE, but are dual listed here with main listing in Amsterdam, so no separate trading account or tax issues
Title: Re: Naspers (NPN) - reaching all time high?
Post by: gcr on July 17, 2019, 06:40:01 pm
the way I understand it, is that you will get Prosus shares that will be listed on the JSE, but are dual listed here with main listing in Amsterdam, so no separate trading account or tax issues
Wasn't this the route that Steinhoff adopted :LHST: :LHST: