Riding high on the growing fortunes of Tencent, in which it holds a 34% stake, Naspers smashed through the R2 000/share barrier in morning trading on the JSE on Monday. It’s the first time the technology and media giant has reached the R2 000/share milestone.

Naspers, which was quoted at R2 023,70/share shortly after markets opened, now has a market capitalisation approaching R850bn.

In the past year, the share, buoyed by China’s Tencent, has added more than 82% in the past 12 months. In the past six months alone, the share price has added 62%.

Other than its stake in Tencent, which owns dominant Chinese Internet brands such as QQ and Weixin/WeChat, Naspers owns stakes in a range of e-commerce and Internet businesses in emerging markets around the world, inculding the London Stock Exchance-listed Mail.ru, in which it holds 29% of the equity.