In today’s briefing:
- Bumhan Fuelcell IPO Preview
- Sinosteel Gets Permit to Exploit Iron Ore in Cameroon
- FPA Queens Road Small Cap Value Fund Q1 2022 Commentary
Bumhan Fuelcell IPO Preview
- Bumhan Fuel Cell is one of the leading players in the hydrogen fuel cell industry in Korea.
- Amid very difficult capital markets, a Korean company called Bumhan Fuelcell is getting ready to complete its IPO in June 2022.
- IPO price range is from 32,200 won to 40,000 won. The expected market cap after the IPO is from 288 billion won to 358 billion won.
Sinosteel Gets Permit to Exploit Iron Ore in Cameroon
- China’s Sinosteel Corp. has struck a deal with the Cameroonian government to begin production of iron ore at a mine, becoming the latest Chinese firm to tap the valuable resource in West Africa.
- According to a company statement, Sinosteel obtained a permit to exploit the Lobé mine after signing a contract with Gabriel Dodo Ndoke, Cameroon’s minister of mines, industry and technological development
- The state-owned mining giant will invest about $700 million to develop the Lobé mine, which is estimated to have about 600 million tons of iron ore reserves
FPA Queens Road Small Cap Value Fund Q1 2022 Commentary
- FPA Queens Road Small Cap Value Fund returned -3.3% in the first quarter of 2022.
- First quarter performance was negatively impacted by the Fund’s overweight position in the technology sector.
- The Fund’s overweight position in technology sector also negatively impacted the Fund’s first quarter performance.
Before it’s here, it’s on Smartkarma
