Simon Shares PPC (JSE code: PPC) have made a deal with their DRC lenders. They potentially owed US$175million but now are only on the hook for US$16.5million. This stock was 60c in November and is now around 240c. Renergen* (JSE code: REN) says helium concentration is +3%. But reference the US has the current best concentration level at 0.35%. Sabvest (JSE code: SBP) results show a discount to net asset value (NAV) of some 50%. Add to this PSG (JSE code: PSG), Remgro (JSE code: REM), Naspers (JSE code; NPN) and Prosus (JSE code: PRX) discounts all in the order of 40% or more. The market is clearly hating on holding companies? Back in the day, a 30% discount was a lot, 15% about the average, and at times PSG has been at a premium to NAV. Ever Given is free, but shipping rates remain elevated as they were before Ever Given got stuck. MPC no change to rates, but changes to Q1 GDP and the vote. Goldman analysts say go long on Russia, South Africa stocks. Bank of America Securities conference on investing in SA had record offshore attendance with Clicks (JSE code: CLS) and Shoprite* (JSE code: SHP) topping the list of interest.
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