Watch­ing keenly to buy

Finweek English Edition - - MARKETPLACE - Ed­i­to­rial@fin­week.co.za

I wrote about Cap­i­tal Ap­pre­ci­a­tion when it ini­tially listed and was trad­ing at around 120c. At the time I was not im­pressed as the net as­set value (NAV) is only 80c and, im­por­tantly, that NAV is cash as it’s a spe­cial pur­pose ac­qui­si­tion com­pany (SPAC), and it needs to make a deal. Thus far Cap­tial Ap­pre­ci­a­tion hasn’t con­ducted one, but with a very im­pres­sive board I ex­pect it will pull off a deal and I am watch­ing the share closely. If the share reaches the low 80s ( just above NAV) I would be a buyer.

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