Vostok Emerging Finance: Scarcity value with upside potential - DNB
VEF offers rare access to: 1) leading VC fintech companies in emerging markets; and 2) a strong NAV value creation track record. We see several potential NAV catalysts by 2021e that could make investors more confident in the medium-term NAV growth prospects. Although it is not a low-risk investment, we like the investment opportunity evolving in VEF and initiate coverage with a fair value of SEK2.6–4.2/share.
https://www.dnb.no/seg-fundamental/fundamentalweb/GetReportSpon.aspx?file=CMPSP_161944.pdf
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