Raven Property Share Discussion Threads

[gfrae] 03/11/2021 14:26

Moscow rents are rising sharply. RAV is fully hedged with interest rate derivatives against rising Russian interest rates. NAV rising due to fall in Sterling and Euro against Rouble...probably 53p plus because of exchange rate alone. Replacement price of Russian warehouses significantly higher that Raven's valuations. Raven warehouses at 96% occupied and rents rising significantly. Russian economy doing well, the government has significant financial reserves. Rouble strengthening. For a change Raven is positioned the right way !
These shares are at a massive discount to arising NAV.
See RAVP chat.

[irish_neris] 13/10/2021 20:41

Its life Jim but not as we know it

[george stobart] 13/10/2021 16:03

signs of life

[george stobart] 12/10/2021 17:57

They hired Russia's largest bank (VTB) as joint broker.

It seems that they will attempt to solicit Russian investors to buy out Raven

[irish_neris] 11/10/2021 01:11

Might get a nice little bump in both ords & prefs this week (its nice to dream)

World’s Energy Chaos Turns Russia Into Top Emerging-Market Pick

[flyfisher] 30/9/2021 06:17

From rav, in a results rns.

[gfrae] 29/9/2021 22:07

Thank you flyfisher, that is massive gearing meaning that NAV will have increased 2 or 3p over tha last few weeks, though perhaps partially offset by the reduction in net earnings caused by Russian intetest rates of 6.5%.
Can I ask if that is your calculation or is it from Raven or somewhere else ?

[flyfisher] 29/9/2021 16:12

1% change in fx alters nav by 1.7%.

[gfrae] 29/9/2021 14:00

Can anyone remind me how sensitive the NAV is to £/Rouble exchange rate ? Had a quick look at the Eddison note, but no quick reckoner there.

[flyfisher] 11/9/2021 16:49

Note that ord shares held in the j/v are booked at cost.

[tiltonboy] 07/9/2021 22:18

I put them on the SETS board and got lifted

[gfrae] 07/9/2021 21:14

You have a better dealer than me...I was offering the stock at 36p but did not get filled.

[tiltonboy] 07/9/2021 20:40

Sold at 36, and re-invested in the Prefs. Might be tempted to reverse that if they fall back to 27

[gfrae] 07/9/2021 20:09

I was told by their PR man that the intention of the placing was to remove the percieved overhang which the company was well aware of and trying to do something about.
It appears he mislead me, probably through ignorance of the company's intentions, the company has just created a different overhang, and any possibility of a non agreed takeover.

[kenny] 07/9/2021 16:54

Don't forget there are millions of shares held by placees who are likely to sell at this level, or higher. A very nice profit for those who were able to get ordinaries or preference shares in the placing.

[tradertrev] 07/9/2021 15:44

Make that discount 40%.

[irish_neris] 07/9/2021 14:25

And down we go............ Again

[flyfisher] 06/9/2021 16:26

Post balance sheet date, there has been a reversal of a 255m rouble legal provision and rouble strength, which increase nav to 52.3p.

Discount to nav at around 35% seems excessive, given the asset mix.

[irish_neris] 03/9/2021 23:03

Yep management are very good. Very good at screwing over shareholders

[topvest] 03/9/2021 19:58

Its a good company with quality assets. Russian logistics warehouses are 2 or 3 times cheaper than the UK. Management are very good so I'm holding my shares and have ignored all the tender offers. Not proved a good strategy so far, but I will stick with it.

[edmonda] 31/8/2021 14:55

New research note from Equity Development today (see link below).

The H1 21 results provide further confirmation of a robust underlying (local currency) operational outlook, underpinned by an inherently resilient and stable asset base. Property values rose on the back of higher rents and continuing demand for a diminishing pool of available vacant space. That momentum is arguably building, with vacant space at a premium and a limited pipeline as development is discouraged by the risks associated with escalating construction costs.

Link to full research report:

[igbertsponk] 31/8/2021 14:40

Obviously can't afford a good lawyer as you deleted the libellous comments.

[igbertsponk] 31/8/2021 12:58

Hope you have a good lawyer!