The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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They need to give a divi or two out if they want this to move up, hopefully they will
With best of the best people in the company,, Do anyone think once European license is in place and USA license in place this could be trading at £15- £20 a share?,, it's only matter of time say next few years,, looking back at be laughing 🤣,all the way,, I've been Topping Up every given opportunity and i will continue
With Strong Cash Generated,, excess capital being built Up,, can't wait Juicy Dividends for a passive long term income,, and most likely interest rates will start to fall,, a great opportunity to buy in,, Strong Buy and Hold
Our Head of Global Payments & Sales, Nkosi Moyo is speaking at the Fintech Spotlight: Moving Africa’s Money event hosted by Invest Africa Ltd.
Taking place this Thursday 21 March from 18:00 - 20:00, Nkosi will be joined by esteemed industry partners to discuss the challenges that Africa faces in regard to cross-border payments, repatriation challenges, reliability, access and scale in the fintech sector.
Panellists include Dr. Ademola Bamgbose - Senior Associate Hogan Lovells as moderator, Charlie Bird – Head of FX Trading Verto, and Theresa Henshaw – Chief Executive Officer United Bank For Africa (UBA) UK
For more information, visit https://lnkd.in/euiH6_Fe.
#crossborder payments #fintech #CrownAgentsBank
Full-year income on track at Cab Payments
By Sharecast News
Sharecast News | 16 Jan, 2024
Cab Payments Holdings said it had seen a 25% jump in full-year income on Tuesday, marginally ahead of expectations.
Updating on end-of-year trading, the payment processing specialist said total income for the year to 31 December was set to be 25% higher than the previous year. Total income in 2022 was £109.4m.
Most analysts were expecting total income of around £132m in 2023.
Cab, which debuted on the London market last summer, said it had benefited from customers switching from incumbent providers to specialists such as itself. The fintech helps businesses make payments in traditionally hard-to-reach markets.
It continued: "The company has a high quality and growing customer base, made up of G10 government entities, some of the world’s best known international development organisations, global remittance companies, emerging markets financial institutions and, increasingly, major market banks.
"Cab has laid out a clear strategy to grow its customer base, expand its presence to new markets and broaden its product offering."
Cab joined the London market in July at just over 300p. The shares then plunged in autumn, however, after it warned on profits.
At the time, Cab said it had been hit by the steep drop in the Nigerian naira as well as central bank intervention in the central African franc.
Canaccord Genuity said on Tuesday: "We are comforted to see Cab deliver a small beat to our own and consensus forecasts for the 2023 full-year.
"We believe continued rebuilding of trust with the market post the October profit warning, demonstrated through managing and exceeding expectations, is required to drive any meaningful re-rating."
Canaccord has a ‘speculative buy’ rating and a target price of 246p.
My price target £5:85 will Come.. except Good results and re rate..
Fantastic news, thanks.
Must be a very recent membership. Never seen them liking a post before.
Crown Agent Bank is a member of the group according to their website.
Anyone have any idea the significance of why the Bretton Woods Committee is liking CABP post??
In the world of Finance/Payments linked to World Bank & IMF, there is probably no single organisation more influential than them!
So handbrake was released.
Then the 'automatic' (shorting) brake systems were activated. Lol
Over the coming weeks the automatic breaking system is going to malfunction 😂
With next to no free float, just shows how quickly it can move.
We had a similar move 2 weeks ago, before the breaks applied again.
IMO It's inevitable a huge gap up is to come. Only a few days left now.
That was very odd, I thought news must have been released...but nothing yet...roll on the 26th!
An American Committee too.
Could be the US licence? Massive spike
Should have piled in even more before posting this nugget of info 🤣
Better not be George Soros and chums buying in 😂
Anyone have any idea why such an influential organisation would be liking a post by CABP? 🤔
US License?
Another TR1 inbound.?
Looks like we are moving up suddenly.
Just noticed they have liked a post by CABP on LinkedIn posted only 2 hours ago!!
https://www.brettonwoods.org/
Very intriguing.
Just look up the list of members 🫣, former presidents, heads of World Bank, IMF, Chairman of the FED, George Soros etc 🤔
Wonder what's going on here?
Appreciate its a totally different business.
But just look at Trustpilot results today. CABP blows every single metric out of the water be it Profitability, EPS, FCF, EBITDA, and they are valued at nearly £1 billion, 4x more than CABP 🫣😂 valued at 4x more, when CABP fundamentals are several times better LOL
Someone has kept a tight lid on the share price that's for sure. Once the handbrake is off, there will be no stopping 🤞
Uzbekistan, UK intensify cooperation in banking sector
calendar
11:06 / 14.03.2024
3445
As part of the visit of the Uzsanoatqurilishbank JSCB delegation to London, representatives of Uzbekistan took part in the annual MoneyLive summit held in the UK.
MoneyLive Summit is a global event in the field of payments and banking, which brings together the world's leading financial institutions, bankers and companies specializing in this field. At this year’s event, issues such as financing fintech and startups, digital banking, and achieving process transparency using artificial intelligence were discussed.
Within the discussion area, representatives of Uzsanoatqurilishbank JSCB and British banks Barclays, HSBS, Lloyds and Crown Agents Bank (£CABP) discussed issues such as export financing and reducing the state share in national banks.
Foreign partners were given a presentation on changes in the banking and financial system of Uzbekistan, the activities of JSCB Uzsanoatqurilishbank, in particular the latest financial indicators of the institution, as well as transformation processes carried out with the support of international financial institutions.
As a result of the negotiations, it was decided to hold a roadshow in May this year in order to inform the British public about the reforms being implemented in the banking sector of Uzbekistan.
https://kun.uz/en/news/2024/03/14/uzbekistan-uk-intensify-cooperation-in-banking-sector
NextGen Nordics 2024: 40+ banks registered to attend
01 March 2024
NextGen Nordics returns to Stockholm on 23rd April, and at seven weeks away from the event day, 200 attendees have already registered.
Among the registrants are a number of representatives from different banks. Included in that are several central banks, such as Bank of England, Central Bank of Iceland, Riksbanken, and Banco Nacional de Angola.
Other banks attending include Afreximbank, Ålandsbanken Abp, Ålandsbanken, Bank Norwegian, Bank of Åland, Bank of America, Bankgirot, Bluestep Bank, BNP Paribas, Citi, Commerzbank, Credit Agricole Egypt, Crown Agents Bank (£CABP), Dahabshil Banking International, Danske Bank, Doha Bank, Handelsbanken, HSBC, Ikano Bank, JP Morgan, Landshypotek Bank, Länsförsäkringar Bank, LF Bank, NOBA Bank Group, Nordea, Nordnet Bank, SEB, Skandia, Sparbanken Syd, Standard Chartered Bank, Sveriges Riksbank, Swedbank, TD Bank, Union Trust Bank, and United Overseas Bank.
A number of notable non-banks have registered including BIS, Bottomline, Getswish, Elavon Klarna Bank, Terrapay, Transfergo, TSYS, Januar, Nordic Payments Council, and Yapily
Our sponsors and exhibitors will also be in attendance, including our lead sponsors Visa and Banfico, as well as Intix, LexisNexis Risk Solutions, NICE Actimize, PPI, Mastercard, Swift, FIS, Tietoevry Banking, and Worldline, and of course, exhibitors Neterium, Crosskey and StoneX.
https://www.finextra.com/newsarticle/43787/nextgen-nordics-2024-40-banks-registered-to-attend
Does anyone else believe that the share price is not acting quite as you would expect on the run up to the results out next week? I can understand that it has been subdued while the 5% holding was being acquired by Working Capital Advisors. I can only assume that they may be contiuing to build their holding this week.
Good luck all.
Quite intriguing to see how they have managed to hoover up more than 5% of the company on the cheap. Guess those £1m buys in the last few weeks must be them. They have been working this price level for several weeks now.
WCA have spent best part of probably £10m+ to acquire this stake. Coincidentally they would have had to spend nearly £45m to buy the same no of shares just 9 months ago at IPO.
Back to IPO levels, and this investment firm is making a brilliant return 🤑
That's another ~13m shares gone from the free flaot. That's nearly 70% of the company held by the BOD and top 5 Institutions, if the smaller ones are included it probably comes to 80-90%. Shares floating around are non existent, perfect storm brewing for an almighty rerate back to a respected level.
RNS Announcement Friday just before close will have caught most out, next week will be interesting once this news is registered...If ever there was a better vote of confidence! Will they continue buying. Wonder who else has been buying, the gap to anywhere near fair value is simply massive. CABP hardly on any PI's radar, but best multibagger opportunity on the LSE Premium Market in the next 12-18months.
Just the 1 week left now, 🤞 all the shenanigans can end.
DYOR
What is the great news. Not seen anything?
My understanding is that a US banking license can't be issued if any one party controls more than 25% of the shares. That's why CABP can't be private, and why people believe that Helios will be reducing their 45% ownership to 25% this year.
However, it's likely that Helios assumed they would be able to dispose of that 20% at near/above the IPO price. That's clearly not going to happen without some major shareholder returns first, which of course is unlikely without the US baking license. So a catch 22 situation.
Now, from a Helios point of view there's a few possible plays from here:
1. Declare a special dividend, big up 2024 prospects and get the share price up to £1.80 or so. Sell the 20% for less than Helios wanted but it's better than nothing. Then CABP go full steam ahead on the US license. The cash starts flowing in, and the share price heads north of £5 by 2025/2026 ready for Helios' exit plan.
2. Build the share price back up through dividends, new customers, expansion into new markets i.e. grow through traditional methods. Once the share price is back up to £3+, Helios reduce their holdings and CABP goes ahead with US banking licence. This all takes time and outcomes are not guaranteed however before the 2025/2026 exit.
3. Helios finds a wealthy external organisation that really values the services CABP can provide to them i.e. another bank such as Santander, and they buy the 20% at a figure somewhat closer to the £3. Helios would have to offer them something in return to justify paying over the odds, but it's doable. Just like Option #1, the US license goes ahead and share price climbs ready for full exit.
4. Pivot, scrap the US banking license plan and take the company private again. Helios would then "just" be getting the returns they had previously and they would have all that IPO money so wouldn't have done too badly out of things really. However, to do that CABP would basically be throwing away their entire strategy, which would mean the CEO's position would be untenable. They'd have to fire him and replace him with somebody new for sure...oh wait... Another thing they'd have to do would be get over 50% of shareholders to back the de-listing, so they'd need somebody with at least 5% of shares to add to their 45%...oh wait...The question of how to then exit in 2025/2026 is tricky, but a full sale to another PE or to another bank would be a possibility.
My belief up to now was that Option #1 was the most probable outcome to recover from here.
However, I'm starting to think Option #4 might be looking like a very attractive Plan B to Helios right about now. The slightly reassuring thing is that CABP were FTSE 100 and I think all parties have aspirations to return. Option #4 is the sort of thing you'd see on an AIM stock not FTSE 100, and investors have long memories if they get burned, so this would be a risky move if CABP and Helios want to return to the big leagues in the future.
It's squeaky bum time f
Correct me if I'm wrong, but if it goes private wouldn't that put a stop at the plans of becoming a clearing house in the US?
I also don't think it can be taken over unless someone offers well above £3 (probably ~ £5). The current valuation is joke and Helios won't accept anything that will undervalue the company.
Great news!