Market Wrap - Stock pick — Naspers

Waldo du Plessis from Nitrogen Fund Managers chose Naspers as his stock pick of the day I'm going to go for Nasper tonight they, just released a statement this evening pointing out that they've completed a share buyback program so some investors will remember that they sold about 2% of their investment in Prosus at about €67.50, today prices in euros closed at about 63 so I mean you can see what they've done, they've sold euros and at €67 and they've gone and bought Naspers when it was really beaten up for round R22bn worth two weeks ago. What they're essentially doing is they're buying an asset for 40% discount or what Naspers was trading at during that week and that's very positive sign."