Naspers Limited - Listing Of Tencent,trading Statement And Cautionary
Release Date: 07/06/2004 08:11:05 Code(s): NPN
NASPERS LIMITED - LISTING OF TENCENT,TRADING STATEMENT AND CAUTIONARY
ANNOUNCEMENT
NASPERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
Share code: NPN ISIN: ZAE000015889
APPROVAL FOR LISTING TENCENT ON HONG KONG STOCK EXCHANGE, TRADING STATEMENT AND
CAUTIONARY ANNOUNCEMENT
On 5 December 2003 Naspers announced that Tencent Holdings Limited (`Tencent`),
the real-time communications joint venture in China in which it holds an
interest, was investigating the feasibility of an initial public offering
(`IPO`). Shareholders are advised that Tencent made an announcement today,
noting that application had been made to the Listing Committee of the Hong Kong
Stock Exchange (`Exchange`), and that approval in principle was granted for the
primary listing of its ordinary shares on the Exchange.
Of the ordinary shares to be offered by Tencent, 10% will be initially available
for subscription by the public in Hong Kong and the balance will be offered in
the United States to qualified institutional buyers pursuant to Rule 144A under
the United States Securities Act of 1933, as amended, or other exemption
thereunder, as well as in other jurisdictions outside the United States.
Dealings in the Tencent ordinary shares are expected to commence on 16 June
2004.
In a trading update on 20 February 2004, shareholders were informed that the
earnings of Naspers for the financial year ending 31 March 2004 will be
substantially higher than the previous year. Shareholders are further advised
that the application of certain accounting standards will provide a further
boost to headline earnings. Accordingly, shareholders are advised to continue
to exercise caution in trading in the company`s shares until the release of the
financial results, which are expected to be reported in the last week of June
2004.
CAPE TOWN
7 June 2004
Sponsor: Investec Bank Limited
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