Ethos Capital mulls share buybacks to narrow discount
CEO says firm will sell five assets to buy back shares
29 September 2022 - 05:00
Private equity firm Ethos Capital is mulling share buybacks in an effort to narrow the gaping discount between its listed market valuation and its net asset value (NAV).
While the firm is fully invested with almost R2.7bn in capital allocated to its portfolio of 23 companies, leaving it with little money to fund share buybacks, CEO Peter Hayward-Butt told Business Day on Wednesday that it was looking to sell five of its investee companies over the next 18 months...
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