Edison Investment Research Limited
Edison initiates coverage on FinLab (A7A)
27-Aug-2019 / 12:58 GMT/BST
London, UK, 27 August 2019
Edison initiates coverage on FinLab (A7A)
FinLab is a self-managed German venture capital (VC) investor and start-up
incubator specialising in fintech companies. It holds a portfolio of 10
active fintech investments across several subsectors, including its main
success story Deposit Solutions. The company also owns three asset
management businesses generating steady cash flow from management fees,
which fully cover FinLab's ongoing expenses. Moreover, it holds a 45.3%
stake in listed investment vehicle Heliad Equity Partners (HEP), which is
currently undergoing restructuring. Since the beginning of 2015, when it
started operating under the current investment mandate, it has delivered an
NAV total return (TR) of around 20% pa.
FinLab's shares currently trade at a 20% discount to last reported NAV of
EUR20.51 per share (as at end-March 2019). Its stake in HEP (c 20% of
FinLab's NAV) is valued based on Heliad's market cap, which is currently 31%
below its NAV. Hence, FinLab's discount on a 'look through' basis stands at
c 26%.
Click here [1] to view the full report.
Subscribe [2]to Edison's content to receive reports by email.
All reports published by Edison are free-to-access and available on the
website [3].
About Edison: Edison is an investment research and advisory company, with
offices in North America, Europe, the Middle East and AsiaPac. The heart of
Edison is our world-renowned equity research platform and deep multi-sector
expertise. At Edison Investment Research, our research is widely read by
international investors, advisers and stakeholders. Edison Advisors
leverages our core research platform to provide differentiated services
including investor relations and strategic consulting.
Edison is authorised and regulated by the Financial Conduct Authority [4].
Edison is not an adviser or broker-dealer and does not provide investment
advice. Edison's reports are not solicitations to buy or sell any
securities.
For more information please contact Edison:
Milosz Papst, +44 (0)20 3077 5700
investmenttrusts@edisongroup.com
Learn more at www.edisongroup.com [5] and connect with Edison on:
LinkedIn https://www.linkedin.com/company/edison-group- [6]
Twitter www.twitter.com/Edison_Inv_Res [7]
YouTube www.youtube.com/edisonitv [8]
Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service
863749 27-Aug-2019
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=72cb634cfd5f7e278c3f582f6c78c759&application_id=863749&site_id=vwd&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=dc4b6da9609a3fa15934b7007f0912b2&application_id=863749&site_id=vwd&application_name=news
3: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=2d62d350e44141e01d1766d8ed0b3f95&application_id=863749&site_id=vwd&application_name=news
4: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=105fe9be9b5e36892886e5a39d51d4b7&application_id=863749&site_id=vwd&application_name=news
5: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=88c95533002fab2316572f9ef6cf3cc6&application_id=863749&site_id=vwd&application_name=news
6: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=afe662765000a80ab72afd922939c992&application_id=863749&site_id=vwd&application_name=news
7: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=ec2d264fe4f303e2143a2e85c6eaa823&application_id=863749&site_id=vwd&application_name=news
8: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=6b959e4d7ee3c402b931a274d2bbe945&application_id=863749&site_id=vwd&application_name=news
(END) Dow Jones Newswires
August 27, 2019 07:58 ET (11:58 GMT)
© 2019 Dow Jones News