Professional
Added to YB: 2024-12-03
Pitch date: 2024-02-28
XTP.DE [bullish]
Sino AG
+149.46%
current return
Author Info
No bio for this author
Company Info
Sino AG provides online stock exchange trading services in Germany. The company offers trading platforms, such as sino MX-PRO.
Market Cap
EUR 151.9M
Pitch Price
EUR 36.80
Price Target
76.00 (-17%)
Dividend
4.31%
EV/EBITDA
N/A
P/E
-151.53
EV/Sales
N/A
Sector
Capital Markets
Category
special_situation
Sino AG Investment Thesis
XTP.DE: Sino AG's value tied to 2.3% stake in Trade Republic (TR), valued at €5.3B. TR in 17 countries, 4M customers (2.5M in Germany). First net profit Sep 2023. Growth potential in untapped EU market. PFOF use a red flag. Potential TR IPO at €8-12B could double Sino's value. Currently trades at 25% discount to TR stake.
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