South Africa’s multimedia company with businesses spanning several nations across the world, Nasper, became the largest traded company by market value in Africa after it sold bonds in July to fund its emerging market internet acquisition plan.
The newspaper, TV and e-commerce operator raised $1.2 billion, in a first bond in over two years, partly to fund purchases, the Cape Town-based company said in a July 15 statement.
The company has in recent years been scouring the globe for new internet acquisitions as it seeks to capitalize on the increased online shopping, banking and other uses by consumers.
According to a Bloomberg report, Naspers has increasingly expanded its online retail acquisitions, targeting new markets such as India, Nigeria, Brazil and Turkey.
The company, which is Africa’s biggest seller of pay TV, broadcasting English Premier League soccer and U.S. dramas such as Mad Men to almost 8 million DSTV subscribers, has shared in Tencent, one of the largest Chinese Internet companies and the operator of major social and messaging platforms in China, and Moscow-based Mail.Ru Group Ltd.
In recent month, the media company has invested in Flipkart, an Indian online retailer that’s taking on Amozon .com, and travel site Ibibo, also based in India, that is competing with Google Inc. and Kayak.com.
