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)
|Average Price per Share (ZAR)
|Total Consideration (ZAR)
|Total Consideration (USD)
|27 Nov 2023 – 1 Dec 2023
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).
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.