Interesting to hear about FDV, Jaluma.
But you are fundamentally mistaken about cross buying other stocks.
Sure, these guys know the sweet spot is to seed and float ipos - their 1c can get them $1 in 2-3 years if the market is looking for stocks in that sector.
So they;d be loath to have one umbrella group with lots of subsidiaries - be very soggy capital appreciation.
But its not just about their greed.
The argument genrally accepted in capital markets is that pre-cashflow companies dont go investing in other stocks.
They are supposed to make sure of their own survival before running around splashing cash.
IPP is only just barely cashflow positive. it needs to stick to its knitting.
Admittedly ipp has the holding in icq - but that was from float so slightly different and a lot cheaper.
As for the growth in asia - given REA only services australia and is now $5.7BNmkt cap -i imagine IPP would argue they have enough on their plate just maximising reach in hk, malaysia ,indoensia.
Now - if we see FDV active in any of the same countries as IPP - I'll agree - then Chairman would have a clear conflict.
But nothing about buying into Pakistan rings any ethical alarms at this stage.
but good intell still.
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