ACF Equity Research

ACF was set up to improve the effectiveness of capital markets for smaller and mid-sized companies. The majority of jobs are created by smaller companies not global companies. If we can help improve companies use of capital markets more projects will be completed, more jobs created, more global GDP grown, which in turn helps create more resources for education, leading to equality and opportunity for those who are still oppressed by ignorance and poverty.

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We deliver premium independent corporate sponsored equity research characterised by its accuracy, clarity and foresight based upon a fundamental valuation approach.

Our independent research is designed to educate our professional investor readers about your company, with an emphasis on clear and accurate explanations. Our mission is to improve company’s liquidity through credible equity research services, excellent international distribution and reliable access for investment managers.

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Research from ACF Equity Research, ACF Equity Research

Research from ACF Equity Research

Equity Bottom-Up

<p>Kibo Energy Plc (KIBO.L: AIM, dual listed JSE:KBO) is a renewable energy and critical metals company. Kibo Energy Shares on the JSE (KBO) traded at a median 90.13% premium over the last 12 months vs. the same shares on AiM under the KIBO.L ticker. KBO shares in the hands of South African sophisticated high net worth and institutional investors have risen 66.7% between 8 Jun 2021 and 31 Aug 2022. There is little to no true retail market in South Africa. WAN shares in issue 31 Dec 2021 2.48bn, shares in issue today 3.04bn, a delta of 22.5%. KBO:JSE shares traded at approximately NAV over the last 52 weeks. Dematerialised shares in London ought to be saleable by going direct to South African Brokers.</p>

Kibo Energy Plc (KIBO.L: AIM, dual listed JSE:KBO) is a renewable energy and critical metals company. Kibo Energy Shares on the JSE (KBO) traded at a median 90.13% premium over the last 12 months vs. the same shares on AiM under the KIBO.L ticker. KBO shares in the hands of South African sophisticated high net worth and institutional investors have risen 66.7% between 8 Jun 2021 and 31 Aug 2022. There is little to no true retail market in South Africa. WAN shares in issue 31 Dec 2021 2.48bn, shares in issue today 3.04bn, a delta of 22.5%. KBO:JSE shares traded at approximately NAV over the last 52 weeks. Dematerialised shares in London ought to be saleable by going direct to South African Brokers.

Kibo Energy (KIBO) Flash Note Arbitrage ACF Equity Research 26092022