ATMA.L Share Price (ATMA)

Why is it a massive buy?

Just a casual massive buy at the ask.

Having a look at it now, that 10p may come more sooner than later. I think even I'd be tempted to buy at that price.

A couple of reasons: 1) They are still holding some legacy investments in Botswana and Zimbabwe that they paid way too much for. 2) Why pay these idiots money when you can just get direct exposure to Nigerian Banks.

Basically this was a lazy and naive business started by Bob Diamond, a first class douche who has no idea about Africa or its Banking systems. The terrible reduction in the share price since inception reflects this. I'd maybe buy in at 10p!

Could anyone help me on this one - how much of Union Bank (UB) does ATMA own, is it 25% or 50%?

M/C of UB is currently c$570m so 50% is $285m with ATMA trading at a current M/C of $190m.

Other than pricing in the prospect of high future ATMA HoldCo overhead and running costs, any reason why current value of ATMA is at such a significant discount to current UB market cap? (Without taking into account any value for the non-UB shares owned by ATMA). Any guidance appreciated and apologies if my maths is wrong or I am missing something