NAspers released stellar results yesterday. i own the Phuthumanathi shares which has a stake in pay tv business - any views on what effect the results will have on the BEE shares and what the dividend will be?
Phuthuma Nathi shares are less likely to follow Naspers movement. Remember the undelying asset on Phuthuma Nathi is not Naspers but Multichoice which is not listed. Naspers owns Multichoice and not the other way round
My take is Naspers Pay TV , Multichoice is the most profitable part of the operations. So as good as the numbers are, its also expected for a good few years. Phutuma Nathi still hugely discounted. Hope BEE investors pick up on this in years to come, otherwise it will always be discounted.
I made a comment on the value of these shares some time ago. I have a personal issue with this scheme. You are trading in an over-the-counter stock, whose supply and demand is set by other private investors. The value of your company is determined by what Koos Bekker et al decide it is. I think you have very little rights as a share holder, and multichoice's numbers are rolled up into a bigger organization. All in all, no institutional demand, limited rules pertaining to the accounting practises of the company and an inexperienced pool of investors makes this stock pointless, IMO. You can get excited about the div's sure, but I doubt you will ever see any capital growth. That is just my personal opinion, of course.