ACF Equity Research

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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 42% premium to BVPS at yesterday’s close. The same shares on AiM under the KIBO.L ticker traded at a 13% discount to BVPS. We selected a popular peer group of large cap US listed renewable energy stocks, our analysis suggests these stocks trade at a premium to P/BVPS (lowest 71% premium to BVPS and highest 550%) - see table below. Our analysis also suggests that the KBO.JO / KIBO.L price gap to BVPS is closing in KIBO.L’s favour YTD. The KIBO.L median Price / BVPS YTD discount YTD is 34.7%.</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 42% premium to BVPS at yesterday’s close. The same shares on AiM under the KIBO.L ticker traded at a 13% discount to BVPS. We selected a popular peer group of large cap US listed renewable energy stocks, our analysis suggests these stocks trade at a premium to P/BVPS (lowest 71% premium to BVPS and highest 550%) - see table below. Our analysis also suggests that the KBO.JO / KIBO.L price gap to BVPS is closing in KIBO.L’s favour YTD. The KIBO.L median Price / BVPS YTD discount YTD is 34.7%.

Kibo Energy (KIBO) Update ACF Equity Research 05102022