Thursday, January 24, 2013

Bonvests

Bonvests: has entered into an agreement to acquire land and building located at The Medina Tunis, Tunisia, for TD 2.8m (~$1.8m). The land has an est land area of 1,140 sm and the building after devt into a hotel has an est area of 3,166 sm. The acq is subject to permission from the governor of Tunis and the seller has contracted to obtain such Permission. The cost of acq will be financed internally and by bank borrowings, and is not expected to have a material impact on the group’s financials for FY13. The traditionally thinly traded counter is -0.4% at $1.12. It trades at 0.63x P/B, 34.9x annualized 9M12 P/E.

No comments:

Post a Comment