SHARE ANALYSIS: Long4Life
Time to buy into the lifestyle business
When I diarised Long4Life (L4L) for a company review in early November, the share was trading at 515c on the JSE. This looked an interesting price position, as the share had regularly traded above 600c in August and September, and had even briefly spiked to 780c in late July. By the time I started penning this piece L4L had drifted down to 433c — which is lower than the prelisting offer price of 500c/share and not far from the 400c/share participation price for promoters such as CEO and founder Brian Joffe. The weak share price can certainly not be attributed to a lack of deal-making activity: L4L has already bagged three investments in the form of beauty business Sorbet and beverages group Inhle, and its “game-changing” acquisition of listed sports and outdoor goods retailer Holdsport. The initial response from my market-watching acquaintances was that the price weakness could be caused by the perception that Holdsport shareholders who received L4L scrip as settlement might offload...
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