Naspers stable gains R260bn in a single day as investors welcome simpler structure

The market value of Naspers increased by R115 billion in a single session on Tuesday as investors welcomed its plan to can a complex cross-shareholding arrangement with Prosus. There were also signs of improvement in its mostly loss-making portfolio of e-commerce businesses.

The Naspers share price ended the day almost 9% higher, while Prosus gained almost 6% - a gain of R145 billion in its market value.

In 2021, the group implemented a cross-holding structure that was aimed at reducing the weighting of Naspers on the JSE. This resulted in Naspers holding Prosus shares, while Prosus held a sizeable stake in Naspers.