||EPS - Basic
||Market Cap (m)
|Equity Investment Instruments
|skyship: A good final rsult for PEQ shareholders - 167p...and in short order;
|envirovision: Well it still makes little sense to me, still waiting game again now. Probably see another tender in 12 months time or so now, plent time for share price to fall back imo.|
|praipus: Draper Fisher Jurvetson ePlanet Ventures LP ("DFJ") where the fellows.
From the PEQ website:
16 September 2005
Private Equity Investor PLC, Skype and eBay
Private Equity Investor notes the recent increase in its share price which it attributes to the announcement on 12th September by eBay Inc. of an agreement to purchase Skype Technologies SA, a Luxembourg based company. Private Equity Investor holds a position in Skype through its investment in Draper Fisher Jurvetson ePlanet Ventures LP ("DFJ").
Skype is a telephony company whose subscribers can make free calls to one another over the internet. Its software also allows PC users to make cut price calls to mobiles and landlines.
eBay has agreed to purchase Skype for $2.6 billion in a combination of cash and shares with a further potential payment of $1.5 billion over the next three years based on Skype achieving certain performance targets.
Assuming completion of the transaction Private Equity Investor would receive an equal amount of cash and shares in eBay with a current value in excess of $13 million. Shareholders should note that the eBay shares would be subject to restrictions on sale and the proceeds might also be reduced by DFJ's "carried interest" entitlement of up to 25% of gains made by DFJ as a whole.|
|praipus: CASA looks quite interesting its trading 10% or so below NAV but has a shareholder redemption facility. It's a fund of hedge funds and private equity in Asia so not the same as PEQ but the redemption facility gives a cash exit to those share holders that need it.
As markets pick up I wonder if the larger PEQ share holders might revoke their desire to exit and ask the management to accept/attract new funds and investments?|
|hieronymous1: Yes. This may or may not happen as circumstances change. Investment trusts frequently do wind up as a way of bridging the gap between share price and net asset value. This is often very profitable for shareholders. I think we are in a win-win situation here.|
|praipus: Utilico have a holding in REH which perked up when Weiss Asset Management bought 15.5% highlighting the share price is far below asset value. Using http://www.investegate.co.uk/ I had a snoop to see what else Weiss is invested in. I think they have about 5% here. I like the PEQ logic 500 companies at early stages from our perspective only a few need to be as successful as Baidu or Skype to pay for all the rest and give us a dividend or shar buy back from time to time.
PCT and RTT seem to trade near NAV.|
|mattybuoy: Exit News:
I got the acquiring company wrong, but
Computer Associates to buy Wily Technology for $375m http://biz.yahoo.com/prnews/060105/nyth096.html?.v=38
This was released yesterday and might explain why the share price ticked up a few pence. PEQ's stake (of unknown size) was valued at $0.59m in the last results.|
|flackwell-raineri: Focus Media dominates the market in which it operates (a staggering 82% of the 10 largest cities in China, in a market that is expanding rapidly), and is extending its breadth through strategic partnerships. Recently Focus acquired Infoachieve which specialises in escalator advertising.
Qtr-on-qtr revenue growth in Q3(+33%) and profit growth (+64%) continues and is forecast to be at least 15% and 20% for the current quarter (Q4). In six months the share price has gone from US $20 to approx US $30 to leave the company on a PE ratio of approx 40. However, the rapid growth that this company is going through soon brings this down to a reasonable level.
Many of the managers are chinese citizens who have held senior posts overseas in advertising. Major customers include P&G, Audi, Samsung, Sony and Microsoft, appealing to the newly affluent middle classes.
All in all a good share in its own right, but risk can obviously be lowered by investing in a fund such as this one.
Whats also important to appreciate with this share (PEQ) is that the NAV relate to 30 Sept ie are 2 months out of date. Given the growth figures of the three jewels in PEQ's crown, a share price/NAV increase is almost guaranteed.|
|flackwell-raineri: Hi Royal - nice to know you remain in.
I'm letting this one run as well as the recent deals have given me renewed optimism. BIDU still seems to be settling into the market and has been quite volatile as the market tries to evaluate. However, the underlying sales growth looks good, and to me more importantly the fact that is is China's number 1 website (based on hits) shows the potential behind this. Clearly they can learn from the masters in the west and build a model accordingly.
Obviously in our position the success of BIDU takes time to be reflected in PEQ's share price. I'm personally not expecting much from the soon to be announced NAV (could even be a fall over the month), but hope to see growth over the coming months.
|flackwell-raineri: Re: Mac's posting - Happy Anniversary
Has anybody any news/views on this stock - I see NAV as at 31/1/03 was nearly £1.45p with the share price today at £0.90p.
With the markets at low points does this represent a bargain too good to miss ?|
Private Equity share price data is direct from the London Stock Exchange