South African media firm Naspers plans to raise around $750-million via a private placement of its ”N” shares to boost funds for expansion in emerging markets, the company said on Tuesday.
Naspers, which runs African pay-TV service DStv, said book-building for the placement would start on February 28 and pricing would probably be announced on March 8.
The company said it was pursuing several new investments in emerging market media companies, some of which may be material, but that it had not reached any binding agreements yet. – Reuters