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Albany Capital
- BY: Andrew Hore |
- POSTED: 06/10/2008 |
- COMMENTS: Add yours
Albany Capital’s stakes in China Food and Sorbic International are worth more than its own market capitalisation.
China Food produces soya sauce and Sorbic International is the 3rd largest sorbic acid and potassium sorbate producer in the world. Both are quoted on Aim, Sorbic reversed into a shell on 30 September, and the combined value of Albany’s stakes at the end of September was £10.2m.
Even after a 0.5p rise in the share price to 20p a share, Albany is valued at £6.31m.
Albany is an investment company that focuses on Chinese companies. It still has stakes in other non-core businesses. They are worth another £2.2m. There is also cash on the balance sheet of £2.8m.
The net asset value of Albany is 48p a share.
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