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Aug 10 2012

Extra dividend boosts Naspers’ acquisition kitty

Published by at 9:40 am under Companies,Europe,More News

According to German blog Mydividends.de Mail.ru, Russia’s biggest internet firm (in which Naspers holds a 29% stake) sold (some, or all) of its Facebook shares to pay an extraordinary dividend of $3.80 U.S. per share. In total $795 million U.S. will be paid out to shareholders on Aug. 17.

Then Naspers’ “acquisition kitty” will be roughly $231 million fuller. Not bad.

Here is the report of Mydividends.de and here the official press statement of Mail.ru. Note: the official statement doesn’t mention the Facebook sale.

Not known, is whether Mail.ru sold all or just some of its shares in Facebook and at what price Mail.ru sold. Before this sale, Mail.ru held 2.33% of all Facebook shares.

Mail.Ru Group also (still) holds 21.35% in QIWI, 39.99% in Russian social network “VKontakte”, 1.41% in Zynga Game Network Inc., 4.63% in Groupon Inc. and smaller stakes in a number of small Russian and Ukrainian internet companies.

One response so far

One Response to “Extra dividend boosts Naspers’ acquisition kitty”

  1. adminon 30 Aug 2012 at 1:39 pm

    A week after Naspers got $231 million (on Aug. 17) from Mail.ru, it blew $90 million of it. On an 18% stake in Indian shopping portal Flipkart.com.

    Flipkart raised a total of $150 million from Naspers and several other venture capital firms. The 18% stake makes Naspers the second biggest shareholder behind Tiger Global Management, which has an unknown shareholding.

    The capital injection was reported by a big number of publications, many of whom got their “facts” meddled up – or, I think so. For instance, several reported Naspers had injected $150 million, which is wrong….I assume, because neither Naspers, nor Flipkart has issued a press release to date, to put the correct facts out there…

    Naspers must be infringing on the JSE and LSE listing rules with their “non-publication of a statement”, because $150 million is no “immaterial investment”. And should Naspers not have released a statement saying it got $231 million from Mail.ru?

    Are the JSE and LSE fast asleep, or do I (still) not understand the “disclosure of information which could move a share” rule?

    And why am I the only financial journalist in the world to complain about the “inability of stock exchanges to protect the interests of investors in their listed companies”? Only conclusion: I must be barking up the wrong tree…

    Christo

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