Naspers’ Million-Dollar Share Buyback Blitz Sends Shockwaves Through Market

  • Naspers reveals repurchasing 288,464 Naspers Shares at an average of ZAR 3,450.6727 per share.
  • Total consideration amounts to ZAR 995,394,864 (USD 53,113,583) for the period from Nov 27 to Dec 1, 2023.
By Lethabo Ntsoane

Naspers Limited (JSE: NPN), a global consumer internet company and leading technology investor, has released a comprehensive update on its ongoing share repurchase program, shedding light on significant transactions carried out during the period from November 27, 2023, to December 1, 2023.

Repurchase Program Progress

In an effort to enhance transparency and compliance, Naspers initiated an open-ended repurchase program for both Prosus and Naspers shares, targeting free-float shareholders. This program aims to provide shareholders with valuable insights into the company’s financial activities while adhering to regulatory requirements.

Voluntary Updates for Naspers Shareholders

Going above and beyond regulatory obligations, Naspers has chosen to voluntarily update its shareholders on the repurchase of Naspers ordinary shares. This move is in line with the company’s commitment to maintaining a high level of communication and transparency with its investors.

Key Repurchase Statistics (27 Nov 2023 – 1 Dec 2023)

Date RangeShares RepurchasedAverage Price per Share (ZAR)Total Consideration (ZAR)Total Consideration (USD)
27 Nov 2023 – 1 Dec 2023288,4643,450.6727995,394,86453,113,583

The Group, during this period, repurchased a total of 288,464 Naspers Shares at an average price of ZAR 3,450.6727 per share, resulting in a significant total consideration of ZAR 995,394,864 (USD 53,113,583).

Looking Ahead

The Naspers share repurchase program is being executed in strict accordance with EU regulations on market abuse. Shareholders are reminded that the information provided contains forward-looking statements, estimates, and projections. These statements are subject to change, given the dynamic nature of market conditions, and shareholders are urged to exercise diligence and caution.

The commitment to transparency and open communication remains a cornerstone of Naspers’ corporate ethos. The company will continue to provide regular updates on its share repurchase program, ensuring stakeholders are well-informed about the latest developments.

Join Our Newsletter
Subscribe to our newsletter and stay updated.


Start trading with a free $30 bonus

Unleash your trading potential with XM—your gateway to the electric world of financial markets! Get a staggering $30 trading bonus right off the bat, with no deposit required. Dive into a sea of opportunities with access to over 1000 instruments on the most cutting-edge XM platforms. Trade with zest, at your own pace, anytime, anywhere. Don't wait, your trading journey begins now! Click here to ignite your trading spirit!

Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: Twitter: @NtsoaneLethabo