Naspers Limited, a prominent player in the South African technology sector, has released an update on its ongoing repurchase programme for ordinary shares in both Prosus and Naspers.
Naspers initiated an open-ended repurchase programme targeting the free-float shareholders of the Group, as announced on June 27, 2022. Weekly updates on the repurchase of Prosus ordinary shares are mandated by regulatory requirements. However, Naspers has taken a step further by providing voluntary updates on the repurchase of its own ordinary shares.
In the recent repurchase activity spanning from December 4 to December 8, 2023, Naspers acquired a significant number of its own Naspers Shares. The key details are outlined in the table below:
| Date | Shares Repurchased | Average Price per Share (ZAR) | Total Consideration (ZAR) | Total Consideration (USD) |
|---|---|---|---|---|
| December 4-8, 2023 | 341,475 | 3,416.471 | 1,166,639,443 | 61,806,598 |
This strategic move reinforces Naspers’ commitment to optimizing its share structure and enhancing shareholder value.
As with any financial manoeuvre, the Repurchase Programme is conducted in accordance with EU regulations on market abuse. The document also contains forward-looking statements that involve risks and uncertainties. Naspers advises shareholders to exercise caution and diligence.
Naspers continues to make strategic moves in reshaping its share portfolio, demonstrating a commitment to creating long-term value for its shareholders. The acquisition of Naspers Shares in this recent repurchase period aligns with the company’s broader vision for sustained growth and influence in the global consumer internet landscape.
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