Stocks in the news (bgrim, jr, spreme, tidlor) 02.05.24
BGRIM: acquires 40% stake in 33.7mw UAE solar rooftop operator for $ 3.39m, 4.1mw cod-ed & 29.6mw target COD during FY24/25.
Comment: Why? I understand it’s sunny over there but when the gov makes it rain then the roads are flooded…
JR: awards EPC contract from TTCL valued at Bt120m.
SPREME: IT Solutions provider, Supreme Distribution, debut IPO 200m shares at Bt2.6 apiece.
Comment: Looks like a great pump!
TIDLOR: announced restructuring plan to holding company, aims to separate traditional biz (auto title loan) from InsurTech non-life insurance brokerage.
Comment: Now? Now you want to do a restructuring and not when you IPO’ed? Ok fine….and then the story shall become 1) traditional biz grows at 1.5x GDP and 2) our tech play will send us to the moon and there’s a tremendous amount of unrealised value here.
peter satrapa-binder
BGRIM acquiring a stake in solar in the UAE: i think it’s a good move. the middle east (saudi arabia, UAE, others, in short desert countries) might become top producers and exporters of solar energy in the future, i.e. they will remain big energy exporters even after their oil runs out. I guess the only challenge is to protect solar power plants in the desert from sandstorms but otherwise there should be big potential. same for libya and all the sahara countries (as long as they can manage to get their insurgencies and small civil wars under control).
peter satrapa-binder
SPREME: well it looks their IPO was quite decently priced too. according to their report on the set web site their latest PER at IPO price is less than 10.
Peter
A good move by BGRIM. The market for power to Data Centers and bitcoin mining in that region is growing and forecasts are exciting. Also in the background increasing need for cooling in a climate changing world. BUY