Naspers-controlled technology investor Prosus has decided to exit its shareholding in Russian classifieds business Avito.
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Chinese gaming and social media giant Tencent Holdings reported flat growth in first quarter revenue, its worst-ever such performance.
A unit of Naspers has invested in Lucky to help the Egyptian fintech start-up expand in North Africa and the Middle East.
The JSE had a spectacular trading session on Wednesday after Tencent Holdings’ shares leapt more than 23% in Asian trading.
Investors punished Chinese shares again on Tuesday, inflicting further collateral damage on South Africa’s Naspers and its European-listed spinoff, Prosus.
Chinese technology stocks slid for a third session on Tuesday amid concerns over Beijing’s ties with Russia and a persistent regulatory overhang.
Shares in Naspers and its spinoff Prosus tumbled on Monday after a report said Tencent Holdings faces a record fine in China.
Prosus expects to write off the equivalent of R11.8-billion and has asked its directors on the board of social media platform VK to resign.
Naspers Foundry said on Tuesday that it will invest R15-million in Cape Town-based Floatplays, an “on-demand earned wage access platform”.
Tencent denied talk that it’s facing a major regulatory crackdown in China, issuing an unusually aggressive public response. Shares in Naspers still tanked.