Dual listed stocks trade at sharp discounts with Seplat Energy at 46% and Airtel at 57%, in Mar. ’23 Top 30
Dual listed stocks trade at sharp discounts to their home markets with Seplat Energy at 46% and Airtel Africa at 57%, in the March 2023 West Africa Top 30 report.
Only Nigeria and BRVM had positive year-to-date US$ returns of 8.9% and 0.9 % respectively, while Ghana had negative year-to-date US$ returns of 3.4%.
Fundamental valuation outliers
NOTE: Valuations figures are listed as at 31 March 2023. Please click on the company name for updated share price.
Companies with the highest and lowest Return on Equity
- Nestle Nigeria 161.6% with a share price at 1,100.30 NGN
- Seplat Energy Plc 3.6% with a share price at 1,120.00 NGN
Companies with the highest and lowest Price Earnings Ratio
- Geregu Power PLC 79.4x with a share price at 323.00 NGN
- UBA 1.7x with a share price at 8.00 NGN
Companies with the highest and lowest Dividend Yield
- UBA 13.7% with a share price at 8.00 NGN
- Coris Bank Int’l is currently not paying dividends.
Companies with highest and lowest Price to Book Value Ratio
- Nestle Nigeria 28.79x with a share price at 1,100.30 NGN
- Access Holdings and UBA 0.31x with a share price at 9.00 NGN and 8.00 NGN respectively.
Sign up to The Investor Mailing List to receive equities reports for listed companies in Sub-Saharan African markets in your email inbox, and to AfricanFinancials’ Equity Valuation Insights LinkedIn page for access to African stock market valuation insights, annual and earnings reports.
About the Author: Hartland-Peel Africa Equity Research
Sub-Saharan Africa ex SA: Equity, debt and FX research covering sixteen countries and advising institutional investors. Proprietary data base of sixteen African stock markets, 250+ companies which is one of the most extensive and complete. New issues, IPO’s and distribution of equity on privatisation. Development of lending and corporate finance opportunities for the bank, privatisation and asset management. An ‘A’ rated equity analyst by South African institutional investors as polled by the Financial Mail in 1998 and 1999.
