World Economy

Naspers Mulls $2.5b Capital Raising

Naspers Mulls $2.5b Capital RaisingNaspers Mulls $2.5b Capital Raising

Naspers Ltd., Africa’s largest company by market value, is considering a capital raising of as much as $2.5 billion to fund acquisitions and pay down debt related to the increase of its stake in Avito, Russia’s largest classifieds site, NewsNow reported. Naspers, the owner of Africa’s biggest pay-TV service, has expanded through acquisitions in emerging market start-ups around the world. The company owns a 34% shareholding in Tencent Holdings Ltd. of Hong Kong, which at about $63 billion accounts for almost all of the South African company’s market capitalization, and has said it’s looking at more opportunities in the Internet advertising and e-commerce markets.