BEE share offer oversubscribed

"The response from the public was heartening. This exceeded our expectations," said Koos Bekker, CEO of Naspers.

The offer ran for five weeks (29 September - 3 November 2006) and included 15 road shows and 350 000 prospectuses being distributed.

Phuthuma Nathi Investments shares will be funded to 20% through cash raised from black investors - African, coloured and Indian individuals and black groups - and to 80% by Naspers.

Details of the exact amounts applied for will be issued this week, once all the figures have been consolidated.