it is isn't it? And the announcement was designated as price sensitive too, but the share price fell!
STANLIB is obviously a big player in africa - might it help win another mandate or two in Sth Africa? Mgmt seem upbeat about Sth Africa - but with all the troubles there perhaps the market is discounting that success (does not make sense to me!)
And the other good news from today was the statement: that BVS "... confirms (again!) its FY17 forecasts as per the Prospectus dated 28 October 2016. There are also a number of other contracts under discussion which may close prior to 30 June 2017".
So, we've got confidence they'll meet forecasts, a good and well-regarded product, sticky customers, a growing customer base, and prospects for more wins in the near term, low valuation multiples (FY17 EV/EBITDA is ~8.5x), a debt-free balance sheet with plenty of cash ($20m+) and improving cash flow generation with moderate reinvestment requirements.
I think we just need patience!
OTOH, its still a recent listing and I guess the market is wanting to see a few more runs on the board before any re-rating occurs. One thing I find a little odd though - and which I don't know the answer to - given BVS's products are sold to major financial instos, why aren't the instos backing it more strongly (via share price) than we've seen to date?
BVS Price at posting:
$1.39 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)