Added to YB: 2025-01-24
Pitch date: 2024-12-09
TFG.AS [bullish]
Tetragon Financial Group Limited
+26.8%
current return
Author Info
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Company Info
Tetragon Financial Group Limited is a close ended feeder fund launched and managed by Tetragon Financial Management LP.
Market Cap
$1.6B
Pitch Price
$13.96
Price Target
35.00 (+98%)
Dividend
2.29%
EV/EBITDA
N/A
P/E
2.51
EV/Sales
1.97
Sector
Capital Markets
Category
value
Tetragon Financial Group Limited - $TFG.AS
TFG.AS: Undervalued at $14 vs $35 NAV. Catalysts: Ripple Labs investment up 5x, potential IPO; Equitix sale ($15-17/sh); mgmt owns 40%. Downside protected by valuable assets. Equitix sale could yield $5-7/sh NAV gain. Ripple position worth $238M-$1B+. BGO put/call option in 2026/27. Pro-forma $11-13/sh cash post-Equitix sale. Multiple paths to unlock value.
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