Shares in JSE-listed technology company Mustek leapt higher on Wednesday after it told shareholders it expects full-year headline earnings per share to be as much as 38% higher than a year ago.
Three investment banks – Goldman Sachs, JPMorgan and Morgan Stanley – will be paid €7.2-million each for their roles as lead financial advisors in Naspers’s listing of Prosus in Amsterdam.
Naspers said a newly created entity containing assets including a stake in Chinese internet giant Tencent Holdings will be valued at about $100-billion (R1.5-trillion).
Not all shareholders are perfectly happy with Naspers at the moment, which made the group’s AGM on Friday a livelier affair than usual.
Naspers is looking to invest in machine learning as Africa’s largest company seeks to expand following an Amsterdam listing of assets including a stake in Tencent Holdings.
Naspers has received enough votes from shareholders to proceed with an Amsterdam listing of assets including a R1.9-trillion stake in Chinese Internet giant Tencent Holdings.
The threat of an International Monetary Fund bailout, unthinkable a few years ago, may force South Africa’s government to push through the reforms it needs to rescue the economy.
Tencent Holdings posted a better-than-expected 35% rise in quarterly earnings after Peacekeeper Elite became the gaming giant’s first break-out hit since it won regulatory approval to make money off new titles.
Moody’s Investors Service hasn’t said it, but investors already think it: South Africa’s credit is junk.
National treasury has proposed changes that will reintroduce a limit to the tax benefit for taxpayers investing in venture capital companies.