08/12/2023
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My view on NICO Holdings counter!
NICO Holdings trading at K150/share is a bargain. It’s market capitalization is K156bn. It has one of the best price to book value at 2.9 times, a great PE ratio of 7.85 and Earnings Ratio of 12.74%. Very healthy matrices compared to the other counters.
It holds 50.1% of NBS whose market Cap is K310bn its share there is K155bn and indirectly holds about 10% on Standard Bank Plc and its market Cap is K821 bn and its portion is K82bn and if you add the two it’s K237bn this does not include indirect holding of ICON, Holding of NICO Asset Managers, NICO Tech, Indirect Holding in Chibuku Products, NICO General, NICO LIfe and NICO Pensions Ltd, Eris Properties, NICO Zambia, Sanlam Moz and minority holding in Sanlam Uganda.
From a Governance perspective it has a strong diverse Board of directors from Malawi, USA, Botswana, RSA with strong business acumen (you can check their annual report on their website) to ensure sustainability.
Work out your maths! Katundu ndi waudzu uyu.
Press Corp is another bargain!
Was just doing a desk top arithmetic! These are my views. What you do with this information is up to you.
Akatundu!