Naspers Buys Back R22.9B in Shares—Will Breakout Above R4,651 Hold?
Naspers (JSE: NPN) ramps up its R22.9B buyback program, retail ownership hits 51%, and a bullish triangle breakout looms above R4,651.
Quick overview
- Naspers Ltd has repurchased 5.19 million shares, representing 3.16% of its issued capital, spending R22.92 billion.
- To finance the buyback, its subsidiary Prosus N.V. sold 30 million shares, raising R23.7 billion to address the discount issue between Naspers and Prosus.
- Retail investors now hold 51% of Naspers, significantly altering the shareholder landscape and future governance.
- Technically, Naspers is poised for a breakout, with key resistance at R4,651 and potential targets of R4,806 and R4,979.
Naspers Ltd (JSE: NPN) is back in the spotlight—this time not just for price action, but for the big moves happening behind the scenes. Between January 10 and April 9, the tech and media conglomerate bought back 5.19 million shares, or 3.16% of its issued capital, at prices between R3,576.95 and R4,955.59.
Total spend? R22.92 billion.
To fund the program, its European-listed subsidiary Prosus N.V. sold 30 million shares on Euronext Amsterdam, raising R23.7 billion. This is part of a long-term effort to narrow the discount between Naspers and Prosus—a problem that’s been frustrating investors for years.
Retail investors now own 51% of Naspers. That’s a big shift in the shareholder mix—and it will influence future governance and capital allocation decisions.
Naspers Chart Watch: Symmetrical Triangle Teases Breakout
Technically Naspers is looking good for a breakout. The stock is consolidating in a symmetrical triangle—a pattern that often precedes big moves. As of April 17 NPN is trading at R4,489.98, just below key resistance at R4,651.64, while the 50-period EMA (R4,475.21) is holding.
A close above R4,651 could trigger a move to R4,806 and R4,979. But a failure to break out and a dip below R4,475 could see a move to R4,375 or R4,206.
Technical Summary:
- Current Price: R4,489.98
- Resistance Levels: R4,651.64, R4,806.22, R4,979.19
- Support Levels: R4,475.21, R4,375.62, R4,206.33
- RSI: 55.5 – Momentum building but not overbought
Trade Setup:
Entry: Buy above R4,651 (on breakout confirmation)
Target: R4,806 – R4,979
Stop Loss: Below R4,475
Pro Tip: Patience pays. Wait for a candle close above resistance with rising volume before entering.
Bottom Line
With a buyback in motion, retail ownership at a record high, and a textbook technical setup unfolding, Naspers may be on the verge of a significant breakout. Traders should stay alert for confirmation—because when a company with this kind of capital firepower starts to move, it usually doesn’t tiptoe.
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