Exited Beximco $BXP -4% Bangladesh listing falling fast

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.

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Rosetti ($RSTI) / $FEES – Russian Grids at bargain prices

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%.

New Investment – RusHydro ( $HYDR)

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this a few weeks ago but didn’t get it posted as I have had an unfortunate festive flu – figures maybe a little more out of date than usual.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.