This latest announcement from RAV looks like banditry on a grand scale. Offer at far below market value of the shares. A shocker!
Not sure what reason there is to be invested in this share.... looks like a dodgy Russian company using a UK listing for some reason?
Stick with the Russian gold miners or not at all for me.
Price is the cost of wanting to offload several truckloads of shares (ordinary and prefs) in one go. Surely the lesson there, for all of us, is to be aware of liquidity of whatever we're invested in.
Assuming that the market would have been able to absorb all those shares then cost to small shareholders would have been much greater.
It's actually a company operating out of the Channel Islands with, as far as I'm aware, British directors. Owns and operates, in the main, big warehouses around major Russian cities. Like most everything else got hit fairly hard by Covid and necessity to switch rents from dollars to roubles.
Definitely not for widows and orphans - I own some because I love the yield.
Invesco is dumping it's stock. It is a warehouse property company in Russia sitting at a ludicrous discount to NAV, despite currently having 93% occupancy and very little bad debt. The Russian economy is looking relatively strong and the recent move to online shopping will have helped the sector.
I've held Raven Property (LON:RAV) for a few years, bought because of low valuation and defensive nature of business with growth potential. SP has bombed due to Woodford and Putin, but the company has plodded on regardless. I believe the intrinsic value will be realised by the market sooner or later.
