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Vmoto Ltd

  • BY: Andrew Hore |
  • POSTED: 24/04/2013 |

Electric scooter supplier Vmoto Ltd has signed a joint venture agreement with Riba in Brazil. 

Brazil is the second-fastest growing electric scooter market in the world and it is expected to grow to 500,000 scooters a year by 2017. The joint venture will be 30% owned by Vmoto and the rest by Riba. Vmoto will supply kits to be assembled in Brazil.

At 1.35p a share, Vmoto is valued at £12.1m. Vmoto is expected to lose money in 2013 but the shares are trading on seven times prospective 2014 earnings.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2013_43.pdf

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