Market Wrap - Stock pick — Naspers
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Waldo du Plessis from Nitrogen Fund Managers chose Naspers as his stock pick of the day.
"Today I'm going for Naspers, just last week they announced that they're selling a portion or 22 million Prosus shares, and that was at €67,50 on Monday the price is at €65. It raised about R27bn of cash, they have R6bn of cash on the balance sheet already and they're going to do buybacks with that, so you know, that should be a good move."
"Today I'm going for Naspers, just last week they announced that they're selling a portion or 22 million Prosus shares, and that was at €67,50 on Monday the price is at €65. It raised about R27bn of cash, they have R6bn of cash on the balance sheet already and they're going to do buybacks with that, so you know, that should be a good move."
