EDIT 16/2/2020 – I reentered as the underlying bounced back. I posted this on twitter – follow me there.
I have exited this – the Bangladeshi listing has fallen. It was c80p a share when I bought in – it is now 55p -31% and the UK listing is down c4%. I have therefore exited.
There are rumours this is due to an accounting issue – I doubt this, the company pays good dividends and has been in operation a long time.
But I cant ignore the risk so for now I am staying out until the discount opens up again.
I will watch and wait.
I bought both of these the other week. They are both very, very cheap and I believe are high quality assets that will rise in price as performance improves and Russia becomes a more ‘normal’ country.
FEES – Fsk Yees Pao is the largest grid company in Russia. 80% of the shares are owned by Rosetti, 88% of Rossetti shares are owned by the Russian government. It is listed in Moscow and London via a GDR – I believe the Moscow shares are cheaper to buy and hold due to fees associated with the GDR. The likely yield is 8-10%. Continue reading “Rosetti ($RSTI) / $FEES – Russian Grids at bargain prices”
Posted a few new investments on twitter that I thought I would update you on. I have found Russia rich pickings for a lover of high yields and low PEs.
I wrote this a few weeks ago but didn’t get it posted as I have had an unfortunate festive flu – figures maybe a little more out of date than usual. I am long from 0.51 (Late October), (currently 0.5895 so +15% in a couple of months) but think there is still value, I literally bought a touch more on Friday.
Continue reading “New Investment – RusHydro ( $HYDR)”