CLICK HERE TO LISTEN TO YOUR EARLY MORNING UPDATE ON NEWS THAT MATTERS: Oil price drops sharply as China admits economic woes; US market’s run continues into the new week; SA banks firm up in sympathy with strong Absa results; Rand’s rally runs out of puff.
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Innovative idea to get appreciation for an under-valued stock
First a disclaimer. BizNews is a shareholder in AltVest Capital, the CTSE-listed company democratising venture capital investing. So, because we have a vested interest in its success, I’d usually not cover what follows. But this is so damned innovative, it would be sinful to ignore.
Since listing a couple of months ago, Altvest shares have hovered around its pre-IPO price of R5 a share. The company plans to list a dozen exotic assets in the next year, starting with Umganu Lodge, whose original owner cricketer Kevin Pietersen is retaining 50% of the equity.
AltVest founder Warren Wheatley believes the share price is too low. So to test that thesis, the company will pay R100,000 in three prizes (50:30:20) to winners of a competition open to anyone prepared to do homework on AltVest and submit a three page report on their valuation.
The competition is called #StockTake. If you fancy having a crack, click here to enter. It closes on Friday. I’ve seen promoters of undervalued companies use many ways to attract investor attention. Nothing quite like this. Will Wheatley’s idea achieve his objective? Maybe. He says the first few entries put AltVest’s value well above the current trading price.
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