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Naspers Set to Implement Five-for-one Share Split Next Month
Naspers is set to implement a five-for-one share split next month, a move designed to make its shares more affordable and accessible to a wider range of investors. The company has declared and finalized this subdivision for both its “N” and “A” shares, with the implementation officially starting on Monday, 6 October 2025. Ahead of this, new N ordinary shares will begin trading on the Johannesburg Stock Exchange (JSE) from Wednesday, 1 October, with the key record date set for Friday, 3 October. This means that for every one share a shareholder holds on that date, they will receive five shares after the split.
Naspers to implement a five-for-one share split next month because the current price of its N ordinary shares has become one of the highest on the JSE. At the close of trading recently, the price of one Naspers N share was around R5,892.19, meaning that buying just 100 shares would cost nearly R600,000. Such a high nominal share price can discourage smaller retail investors and reduce the overall liquidity of the stock, making it harder for everyday investors to buy in.
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With Naspers set to implement a five-for-one share split, the company aims to reduce the price per share by dividing each share into five, thereby lowering the cost of a single share and encouraging more broad market participation. Importantly, the total value of a shareholder’s investment does not change because the split simply increases the number of shares while proportionally lowering the price of each share.
The decision to do this comes as part of a larger strategy to simplify Naspers’ complex shareholding structure and to align its stock price more closely with its European-listed subsidiary, Prosus. This alignment is expected to improve liquidity and help the market better value the overall group. Management has focused on reducing the long-standing discount to net asset value (NAV) that existed because of the complicated cross-holdings between Naspers and Prosus, as well as the value of their Tencent stake and other assets.
The group has been on a multi-year restructuring effort to unwind this crossholding, which Bloomberg News reported on in June 2023, framing the split and restructuring as efforts to create a cleaner and more understandable capital structure. The company has also been running an open-ended share buyback program, returning tens of billions of dollars to shareholders and actively working to narrow the discount to NAV by applying pressure on the share prices.
Since Fabricio Bloisi became CEO of both Naspers and Prosus in July 2024, Naspers shares have rallied significantly. Over the past year, the JSE-listed N shares are up by nearly 70%. While broader tech stock sentiment and Tencent’s performance have been contributing factors, investor confidence in the company’s strategy to close the discount and simplify the group has clearly improved.
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Naspers has also ensured that the administrative details are aligned for a smooth implementation. For investors holding physical shares (certificated form), they will receive their new shares in a dematerialized form credited to nominee accounts managed by the company’s transfer secretaries. Shareholders are advised to take necessary steps to transfer their certificated shares to electronic accounts to avoid delays.
In summary, Naspers set to implement a five-for-one share split next month reflects a strategic move to make its shares more accessible, align with global subsidiaries, improve liquidity, and increase investor confidence. This share split is expected to lower individual share prices while keeping the total ownership value the same, helping smaller investors to participate more easily in the company’s growth story and hopefully continue the positive momentum in the stock going forward. The market has reacted positively to similar moves and restructuring efforts in the past, suggesting this split could be another step in creating shareholder value and narrowing valuation discounts.
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