naspers hat tradus gekauft...und nun? (Seite 33)

[Zockerpetry]

JOHANNESBURG STOCK EXCHANGE Code: NPNJN.J Currency: ZAc Date: 20/10/2010
Last 36,948 Volume 1,053,552
Change +170.29 Percent Change +0.46 %
Time last trade 16:49 Bid 39,164
High 37,250 Ask 34,732
Low 36,550 Year High 32,490
Open 36,700 Year Low 25,200

Wird mit Bid ja immer wilder...

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JOHANNESBURG STOCK EXCHANGE Code: NPNJN.J Currency: ZAc Date: 19/10/2010
Last 36,740.00 Volume 2,593,947
Change -360.00 Percent Change -0.97 %
Time last trade 16:49 Bid 38,944.00
High 37,200.00 Ask 34,903.00
Low 36,655.00 Year High 32,490.00
Open 37,000.00 Year Low 25,200.00

[Zockerpetry]

Antwort auf Beitrag Nr.: 40.310.386 von zinn123 am 13.10.10 09:44:00

Hatte irgenwo mal was von 420 Rand gelesen. Aber das KGV dürfte zum Jahreswechsel wieder sinken und es kann weiter nach oben gehen...

Wenn man liest, dass KGV´s von 50 bei gut wachsenden Internetfirmen normal sind, dann weist Du, was wir hier noch vor uns haben...

[zinn123]

Antwort auf Beitrag Nr.: 40.306.726 von Zockerpetry am 12.10.10 17:06:32

welches kursziel siehst du am Ene des jahres?

[Zockerpetry]

JOHANNESBURG STOCK EXCHANGE Code: NPNJN.J Currency: ZAc Date: 12/10/2010
Last 35,547.00 Volume 5,001,125
Change +1,997.00 Percent Change +5.95 %
Time last trade 16:49 Bid 37,289.00
High 35,800.00 Ask 33,415.00
Low 33,800.00 Year High 32,490.00
Open 33,800.00 Year Low 25,200.00

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http://www.finanznachrichten.de/nachrichten-2010-10/18202198…

Börsengang von Mail.ru 15 %

[Brain67]

The Investment Case – Naspers Ltd

What would Dr Malan say now?

ORAPA - The story of Naspers (JSE:NPN) is the story of South Africans' amazing ability to adapt and prosper. What started out nearly 100 years ago as a nationalistic newspaper house, has grown into the biggest emerging-market media player in the world.

Over the last ten years in particular, Naspers has shown a rare combination of foresight, the ability to make full use of its experience in developing economies and the willingness to take a chance. The group has not only established interests in all of the key BRIC (Brazil, Russia, India and China) countries, but has also invested in the African growth story through anticipating the ways in which new technologies will shape these markets.

"Naspers has certainly come a long way from being just a publishing house," notes Frost & Sullivan ICT consultant Lindsey Mc Donald. "It now has an array of investments in diverse areas, with a focus on developing or emerging markets. Even in countries with mature economies, the company has invested in a start up or very niche players."

A cornerstone of the group's focus has been on a converged media strategy, allowing for the same content to be distributed over a number of channels.

"The entrepreneurial flair of management and their model of taking minority stakes in businesses where they see complementary growth potential sets Naspers apart," says Stanlib industrial analyst Fred Teeling-Smith. "This has allowed the company to constantly evolve to follow new technologies and media themes."

An overview of the group's holdings provides some idea of its reach. Naspers has maintained its presence in the print media through its 85% ownership of Media24 in South Africa, local interests in publishing, printing and distribution, and a range of investments in Brazil and China. In the pay-TV space, the group currently owns 80% of Multichoice in South Africa, and 100% of Multichoice in sub-Saharan Africa. Its internet interests stretch from its 100% ownernship of Mweb and the 24.com portals in South Africa, to interests in a number of countries including Thailand, Singapore, Poland and the Netherlands. It also owns 30% of mobile social networking platform Mxit.

"This combination of pay-TV and internet operations is unique," says PSG Alphen Asset Management portfolio manager Shaun le Roux. "The more mature investments in pay-TV and print media generate significant cash flows which have been used to invest in less mature and high growth internet opportunities."

History

De Nasionale Pers was founded in 1915, with the stated aim of uplifting the local Afrikaner community and combating English dominance of the print media. The first editor of the group's flagship newspaper, Die Burger, was none other than DF Malan, the man who would later become the first National Party Prime Minister in 1948.

The group made its first steps outside of the publishing industry when it, together with South Africa's other newspaper groups, formed the pay-TV business M-Net in 1985. This move laid the foundation for its international expansion in the early 1990s, which was initially centred on the television industry. Naspers purchased a stake in Filmnet in Western Europe and later formed NetMed in Greece.

Naspers listed on the JSE in 1994, three years before it diversified into its second major area of growth - the internet. In 1997 the group formed internet service provider MWeb, marking the start of its emergence as a media player with interests at all levels of the value chain.

Its first major international emerging market play came in 2001 with the purchase of a stake in Chinese internet services company Tencent. It subsequently expanded into over 100 companies around the world, consistently improving its reputation through the quality of the investments it made.

Dividends

Naspers has followed a policy of consistently increased dividend payouts to shareholders, offering improved yields even through the recession. For the financial year ended March 31 2010, Naspers paid out R2.35 per share. This was up from R2.07 the year before.

For the 2008 financial year, the total dividend per share was R1.80, and in 2007 it was R1.56. The group has therefore increased its dividend by just over 50% in the last four years alone. Naspers currently offers a dividend yield around 0.75%.

Which funds hold this stock?

Many of South Africa's top fund managers have an eye for Naspers. It is a top five holding in both of the leading equity large cap funds over the last three to five years - the Coronation Top 20 Fund and the Absa Rand Protector Fund. Both of these funds are in the top 20 performing unit trusts over the last five years.

Amongst the top five general-equity funds, the Coronation Equity Fund has maintained its holding in Naspers at over 6% of the fund for the past year, the Kagiso Equity Alpha Fund has assigned over 7% of the fund to Naspers over the same period, while the Prudential Equity Fund holds around 4.5% of its fund in the stock. The Absa select equity fund is slightly less bullish, assigning just over 2% of the fund to Naspers. Only the Allan Gray Equity Fund does not have a position on the stock at all. To see which funds are buying and selling the counter, visit Moneyweb's Unit Trust Portfolio Tool.

Why would an individual consider investing in this company?

Naspers is part of an elite group of South African companies that have been pioneers in emerging markets. Together with companies like MTN (JSE:MTN) and SABMiller (JSE:SAB), the group has proved the effectiveness of a strategy that targets developing economies where risks may be higher, but the rewards are significant when it's done right.

Naspers CEO Koos Bekker told Moneyweb earlier this year: "We will continue to develop in emerging markets - two reasons really. One is if we compete in the US we have to compete against Google and Apple and these are guys which will probably clobber us over the head and beat us to a pulp, so we try to avoid fighting heavyweights on their own turf. The second is that emerging markets are growing faster... and there is no reason that should stop."

The group is not only the dominant player in the sub-Saharan pay-TV market, but also owns stakes in internet businesses in China, Eastern Europe and Brazil. These are exposed to fast growing online communities.

"Naspers' management have a very strong track record in identifying growth areas in media markets and making early investments." says PSG Alphen Asset Management's Le Roux. "The group's major businesses dominate the areas in which they operate and the size of the client base makes it difficult for competitors."

What risks does this company face?

Like all companies heavily invested in emerging markets, a fine line separates Nasper's strengths from its most poignant threats. While its Chinese enterprise offers tremendous potential, there are notable difficulties associated with operating in that market. Naspers made a number of false starts in China, and now needs to show that it can generate sustainable profits there.

"There are still risks that Tencent's growth may fail to deliver on market expectations," notes Stanlib's Teeling-Smith.

There are also concerns that repressive internet regulation could impact on the business.

The group's bets on a number of internet content providers and social networking platforms are also under scrutiny.

"The company could fail to produce adequate returns on their sizeable recent internet investments," Le Roux notes. "Internet communities are mobile and Naspers' clients may migrate to a new platform."

Where does this company's growth potential lie?

Naspers' interests in fast-growing economies and media platforms suggests that its main businesses are well placed to continue to deliver returns. With the ongoing development of television technologies such as high definition, PVR and 3D, there is still room to grow at the top-end of this market. The group has also made significant headway into making pay TV more accessible to lower income groups through providing different package options.

"Growth in pay-TV subscribers is expected to be healthy as the company increases its penetration into lower-LSM markets," Le Roux states. "The internet businesses are expected to record very strong growth with expanding internet penetration and increases in online transactions."

Taking further advantage of the mobile platform through offerings, such as mobile television should be another area of growth for Naspers. However, it is the group's internet businesses that will be watched with the most interest over the next few years.

"Provided that Naspers can deliver on its internet strategy, then I think that there is still considerable growth that we can expect over the next few years," says Teeling-Smith. "The key will be the monetisation of their internet communities and the continued penetration of Pay TV throughout Africa."

Naspers' interest in Tencent in China is central to this growth potential. The group paid $32m for 46.5% of the internet services company nine years ago. This stake has been diluted to around 30% since Tencent listed in Hong Kong in 2004, but is now worth in the region of $12.5bn.

Tencent is now China's most valuable internet firm and plans to expand into more markets. While there were some difficult times early on, in the last financial year, Naspers's share of revenues from Tencent was R4.87bn. This is 49% growth on a year ago.

"Essentially, Naspers has perfectly positioned itself as a one-stop-shop of content provision," Frost & Sullivan's Mc Donald concludes. "It works in the traditional segment, is very well represented in the digital space, new media, IM, social networking and of course the mobile platform. It is therefore to be expected that any new acquisitions would be focused on organisations that provide a complementary service or application to this portfolio."

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JOHANNESBURG STOCK EXCHANGE Code: NPNJN.J Currency: ZAc Date: 06/10/2010
Last 33,580.00 Volume 1,286,392
Change +186.62 Percent Change +0.56 %
Time last trade 16:49 Bid 35,594.00
High 33,800.00 Ask 31,901.00
Low 33,401.00 Year High 32,490.00
Open 33,800.00 Year Low 25,200.00

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JOHANNESBURG STOCK EXCHANGE Code: NPNJN.J Currency: ZAc Date: 01/10/2010
Last 33,314.11 Volume 2,075,401
Change +14.11 Percent Change +0.04 %
Time last trade 17:14 Bid 35,298.00
High 33,832.00 Ask 31,635.00
Low 33,207.00 Year High 32,490.00
Open 33,814.00 Year Low 25,200.00

Vorbörsliches Bid gefällt mir ja schon mal...

[Zockerpetry]

Antwort auf Beitrag Nr.: 40.230.295 von Brain67 am 29.09.10 11:11:12

Ja, das waren noch Zeiten rasanter Gewinne! Ich habe etwas bedauert, daß ich nach QXL nicht alles auf Naspers gesetzt habe. Bin mit denen rund 175 % im Gewinn. Aber das Risiko zu geringer Streuung war mir zu groß.

MELI und alibaba.com sind aber auch nicht schlecht... ebay wird noch!