Naspers’ market capitalization increased by R80 billion ($5.3 billion) after Tencent’s share price surged.
- Tencent, in which Naspers holds a 28.9% stake, saw its shares rise 12% in Hong Kong.
- This boost comes after Tencent’s gaming revenue rebounded in the first quarter.
- Naspers’ investment in Tencent has been a significant driver of its value.
- The market capitalization of Naspers is now around R1.4 trillion ($93 billion).
- The increase in Tencent’s share price is attributed to the success of its gaming division, including the popular game “Honor of Kings”.
- The surge in Naspers’ market capitalization is a welcome development for investors, following a challenging period for the technology sector.