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Johannesburg - Shares of South Africa's Naspers [JSE:NPN] rose 1.2% to R335.50 after the media firm's Russian unit, Mail.Ru Group, says it plans an initial public offering on the London Stock Exchange this year.
Shareholders are aiming to raise more than $500m by listing around 15% of the Russian internet firm, which is also an investor in Facebook, a source tells Reuters.
Naspers, which has focused on e-commerce and emerging markets as revenue from traditional media declines, directly owns nearly 29% of Mail.Ru Group.
Chinese firm Tencent Holdings, of which Naspers owns more than 30%, holds 10.3% of Mail.Ru.
Shareholders are aiming to raise more than $500m by listing around 15% of the Russian internet firm, which is also an investor in Facebook, a source tells Reuters.
Naspers, which has focused on e-commerce and emerging markets as revenue from traditional media declines, directly owns nearly 29% of Mail.Ru Group.
Chinese firm Tencent Holdings, of which Naspers owns more than 30%, holds 10.3% of Mail.Ru.
