HCI shows turnaround signs but critics still seek value unlock
Strong gaming assets do little to alleviate discount in trading of the group’s shares
25 November 2021 - 18:47
Hosken Consolidated Investments (HCI), the black empowerment investor with stakes in Tsogo Sun Hotels and Tsogo Sun Gaming, reported a strong turnaround in its fiscal first half-year, though it continues to be bedevilled by a share price that trades at a glaring discount to its net asset value (NAV).
Like other investment holding companies — even those at the scale of Naspers and Prosus — HCI’s total market capitalisation is worth less than the combined value of its underlying assets, which extend beyond gaming and leisure and include majority holdings in Frontier Transport and eMedia Holdings...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.