58.com: Market Share Gains and Pricing Power Put 58.com in a Strong Position.
58.Com Adr (WUBA US) recently reported 2Q17 results that were ahead of consensus. Revenue guidance for 3Q was also strong and ahead of our...
387 Views
Market Is Ignoring Naspers' Investment Track Record. Discount to Underlying Value Is Unjustified
Over the last year, either the market has implicitly marked down the value of Naspers (NPN SJ) unlisted e-commerce assets by $18bn, OR the implied...
402 Views
Rising Moral Hazard and Governance Issues Around Tech Threaten EM Bull Case
The steady rise in most global equity markets over the first half of this year has been mainly driven by the weakness of the USD (USD CURNCY),...
278 Views
Naspers' Operational Improvements Continue
Naspers' (NPN SJ)Â full year results were recently released, but had been largely pre-announced. We view them positively given the challenges it has...
337 Views
South Africa : A Cross Asset Overview of an EM Benchmark Country
South Africa is experiencing a period of political and financial turmoil, with the dismissal of the respected former finance minister Gordhan...
245 Views