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APQ Global acts to offset coronavirus impact

Snapshot

Company's net asset value was US$26.03 cents per share as of 31 October

APQ

Quick facts: APQ Global

Price: 30 GBX

AIM:APQ
Market: AIM
Market Cap: £23.51 m
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  • Emerging market-focused investment company
  • Portfolio reduced largely to cash

What APQ Global does

APQ Global PLC (LON:APQ) is an emerging markets-focused investment firm with interests across Asia, Latin America, Eastern Europe, the Middle East and Africa

How it's doing

On 31 October 2020, APQ's unaudited book value was 26.03c (20.13p).

In November, APQ disposed of all of its holding in City of London Investment Group with net proceeds from the sales £7.2mln (.US$9.6mln).

The company said it intends to partially redeploy the proceeds in the near future and to bolster its cash position.

What the boss says: Bart Turtleboom, chief executive (in April) 

"This has been the most challenging environment in my career and an exceptionally difficult environment for the company."

“While there is clearly value appearing, history tells us that is going to take at least three to six months before the markets fully stabilise and we’re going to be cautious in that space.”

"We have focused on maximising liquidity in the balance sheet, which was recently achieved. Having stabilised the company's finances, management is now fully committed to exploring further opportunities in line with the company's business strategy and investment policy.

": While there is clearly value appearing, history tells us that is going to take at least three to six months before the markets fully stabilise and we’re going to be cautious in that space.

“Western economic systems are not really designed for an overnight collapse of 20% of GDP.

“Unlike the crisis of 2008, which was really a crisis of the financial sector in the US and Europe, we are now looking at a truly global crisis that has a very significant impact on pretty much on all sectors. That is going to have a lasting impact.”

Inflexion points:

  • Emerging markets recover from hammering at the start of 2020
  • More direct acquisitions, keeping the emerging market focus
  • NAV at end October 26.03c

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APQ Global's (LON:APQ) Bart Turtelboom tells Proactive London's Andrew Scott it's been ''the most challenging environment of my career by a mile.''. ''We went through an episode where overnight 20% of global GDP stopped with a truly unique impact on markets ...  especially emerging...

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