Blog
Lonzim: A great opportunity at current levels?
Posted 20/11/09
LonZim( AIM : LZM ), the investment company focused on Zimbabwe and another Lonrho offspring is participating in the ProActive Investors Presentation on Thursday 26th November. Having floated at 100p and having now made a number of portfolio investments it could represent an interesting buying opportunity.
The group was admitted top AIM in December 2007 when it raised c£28.7m at 100p per share for acquisition and investment into Zimbabwe. Since then the shares have slumped to the current price of 32p – seemingly somewhat harsh but anything goes for micro caps in the current market!
It has now completed seven significant transactions, having invested 80% of funds raised, and built a portfolio of businesses in Zimbabwe, an emerging market favourite of many commentators.
Management commented on 15th October that the current LonZim market capitalization (£10m on the day at a price of 31.5p) stands at approximately a 62% discount to the acquisition cost for the portfolio of LonZim businesses. (Ignoring rises in Zimbabwean market values ).
Lots of Lonrho plc people on the rather large board.
It looks an interesting one to follow especially at current levels.
Suggest you visit the Proacative Investors website at http://www.proactiveinvestors.co.uk for further information on the presentation.
This entry was posted 8 months, 1 week ago and was filed under Lonzim.
