Professional
Added to YB: 2024-01-08
Pitch date: 2024-01-08
ENX.JO [bullish]
enX Group Limited
+51.81%
current return
Author Info
No bio for this author
Company Info
enX Group Limited engages in the diverse businesses in the general industrial sector in South Africa.
Market Cap
ZAR 758.1M
Pitch Price
ZAR 2.63
Price Target
1.1K (+28588%)
Dividend
N/A
EV/EBITDA
-9.27
P/E
5.62
EV/Sales
0.08
Sector
Trading Companies and Distributors
Category
special_situation
Bonhoeffer Capital: $ENX.JO has 35% upside and a catalyst in the next 12 months
ENX.JO: Shedding non-core units, selling auto leasing Eqstra. Remain co: high-return chem & power equip distrib, 16% FY23 ROE, 1R EPS, 26% rev growth forecast. Capital-light, 50%+ net income for buybacks. Eqstra sale: R2.19B val, R1.05B net equity, R5.73/shr cash to holders. At R8.50/shr: R5.50 cash + growing distrib. 35% upside to R11.47, 6x earn val of remain co. Risk: R6.51 takeover bid (48% holders), undervaluing vs est.
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