Sabvest’s strong results not enough to excuse its hefty share price discount
Investment holding group has potential but needs to do more to reduce the discount to net asset value at which its shares trade, says activist shareholder
25 March 2021 - 18:59
Investment holding company Sabvest Capital still trades at a 50% discount to its net asset value (NAV), despite efforts by management to close the gap, including through a share buyback programme and eliminating its specialised N shares.
Speaking on Thursday, after the release of financial results for the year to December 2020, activist shareholder Chris Logan said the group, whose share price surged 9.07% to R38 on Thursday — the largest one-day increase since December 29 2020 — had experienced problems with its capital structure in the past but it was taking steps to correct this...
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