ASX:TVL
Touch Ventures Ltd
Investment Summary
The fund managers believe that Touch Ventures Ltd is currently undervalued, with a market price significantly below its net asset value. In their opinion, the company’s ~$60 million in cash, along with an additional $50 million in unlisted assets, presents a solid financial base. Despite the recent price rise, they see considerable upside potential due to the 47% discount to the company's net asset value. The managers also note the increased interest in the stock, particularly due to Gannet Capital’s purchase of almost 20% of the company.
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Manager
Cyan Investment Management
Date
31 Jan 2024
Price
$0.08
Medium
Monthly Report
Commentary
Cyan C3G Fund continues to hold Touch Ventures (TVL) given its compelling valuation. As of December 2023, the company held approximately $60 million in cash and an additional $50 million in unlisted assets, which equates to a net asset value significantly higher than its current market price of 8.2c, implying a 47% discount. The recent interest in the stock, partly driven by Gannet Capital's acquisition of nearly 20% of the company, has added to the positive sentiment. Despite the recent price rise, Cyan C3G Fund believes there is still substantial upside potential given the current market valuation.
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.