It would be good to see a company like this IPO in the near future, so we can get a better understanding of how the market prices it, along with it's assets - I.e Zameen.
However, I personally do not want FDV to sell any of their stake in Zameen. Zameen is the dominant portal in Pakistan, with it's fingers in everything. If you look on Zameens website and news articles from Pakistan, you will see that they are more than just an REA equivalent. for example, they have recently partnered with huge property developers to launch the sale of off the plan properties for multiple multi-story complexes EXCLUSIVELY through Zameen, with in person tape cutting ceremonies and big press announcements.
They are also on a strong growth trajectory, within a massive market that is continuing to adopt the internet and build trust in Zameen (the above tape cutting ceremony is a good example).
They are also close to profitability stage (EBITDA doesn't mean profitable), if not there already, which means they can continue to fund their own growth into the future. The strong rise in EBITDA margin is a great sign of the future.
In the ideal world, they would start to generate strong free cash flow, and pay out dividends to their shareholders (e.g FDV), which would then allow FDV to continue to invest in their other businesses and try to create the next Zameen.
Obviously everything has a price, and their is geopolitical and economic risk in Pakistan so I would be happy to be bought out at the "Right" price, but this would have to be significant >$300m AUD.
FDV Price at posting:
72.5¢ Sentiment: Buy 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)