Bought a small portfolio weight in PHN at 11.63 PLN, a 3.4% portfolio weight. I somewhat tempered the weight as the price was a little more than I wanted to pay. I will add if it falls back to sub 10 PLN.
I have watched this one for quite a while. It is a Polish office developer / trust. A stake was floated by the Polish government in 2013 at 25 PLN per share and it’s fallen ever since. They have little debt – approximately 710m PLN liabilities vs 2748m worth of assets. Or a book value of 41 PLN per share. Continue reading “Polski Holding Nieruchomosci $PHN – Polish Property 1/4 book”