Edison Investment Research Limited
Edison issues update on FinLab (A7A)
09-Apr-2020 / 11:37 GMT/BST
London, UK, 9 April 2020
Edison issues update on FinLab (A7A)
FinLab's recent focus was on existing portfolio holdings and selective
investments in blockchain projects through the EOS VC Fund. Although some of
its fintech companies have seen improved performance in the COVID-19 crisis,
the outlook remains uncertain. That said, FinLab is ready to support its
holdings with liquidity, which should be backed by its healthy cash position
and recurring fee income streams. Despite the broad market sell-off,
Heliad's (one of FinLab's holdings) share price has increased 8% since
end-December 2019, potentially driven by positive stock catalysts at its
largest investment, flatex, an online broker.
FinLab's NAV total return was c 33% in 2019, with the discount to NAV
widening to 45% at end-December 2019 from 24% a year earlier. Taking into
account a c 4% share price drop since end-December 2019, FinLab is trading
at a 47% discount to its last reported NAV. Heliad is trading at a discount
of c 39% to its end-December 2019 NAV after its shares appreciated 8% since
end-December 2019.
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For more information please contact Edison:
Milosz Papst, +44 (0)20 3077 5700
Anna Dziadkowiec, +44 (0)20 3077 5700
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1019499 09-Apr-2020
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(END) Dow Jones Newswires
April 09, 2020 06:37 ET (10:37 GMT)
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