In today’s briefing:
- Spindex (SPE SP) Illiquid but Very Cheap Company
Spindex (SPE SP) Illiquid but Very Cheap Company
- Spindex is an illiquid but well managed company listed in Singapore
- It trades at less than 2X EV/EBDITA multiple while its competitor Innovalues got privatised at 9 X EV/EBDITA
- With 60% of market cap in cash, ex-cash current assets are more than total liabilities, offering limited downside
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