Tencent and NetEase shed more than $60-billion of value on Thursday as investor fears grow that Chinese regulators are preparing to tighten their grip dramatically on the world’s largest gaming industry.
Rudi Jansen, a former CEO of Mweb and a pioneer in South Africa’s early Internet industry, has died. Jansen passed away on Saturday — from a heart attack, according to an industry colleague.
Tencent investor Prosus – the spinoff of JSE-listed technology and media conglomerate Naspers – is placing its bet on India as the next big technology market.
Technology investor Prosus said on Tuesday it had agreed to buy Indian payments platform BillDesk for $4.7-billion to complement its own PayU business.
Naspers’s high-voting A shares once again ensured that all of the resolutions at Wednesday’s AGM were passed, despite hefty opposition from the N shareholders.
Chinese technology shares rallied in Hong Kong on Monday as bargain hunters pounced in the wake of the sector’s worst rout in months.
The deal between South Africa’s Naspers and its spinoff Prosus this week caused havoc, with the JSE forced to delay opening by hours on Wednesday amid the rush of rebalancing trades.
The five-and-a-half-hour outage on the JSE that prevented traders buying and selling stocks until well into the afternoon on Wednesday was not a good signal for a bourse that touts itself as Africa’s finest.
The JSE equities trading market failed to open on Wednesday for technical reasons, causing enormous frustration in the investment community.
Naspers, through its Naspers Foundry investment business, is leading a R160-million series-A funding round in South African fintech start-up Naked Insurance.