Opinions
Fabrice Taylor
Urbana Corp. (A Shares)
URB.A-T
BUY
Oct 08, 2015
$2.020
Stock price when the opinion was issued
management
diversified
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TOP PICK
These are exchanges, which are great cash flow. The only people in the world that built up this quoted and unquoted stock markets. They even have Bombay. Did a very clever tax-free flow through to a shell that already had some shares. Has a good chance of sidestepping the mess out there.
management
diversified
COMMENT
It has been a closed end fund on the TSX, but has just decided to switch it to an investment company in order to keep current with current security regulations. Trading at an enormous discount to its NAV. What they have done to close that gap is to buy back 30 million shares to shrink the capital base back to about 50 million shares outstanding.
management
diversified
They have lots of investments in financial firms such as exchanges. It trades at a big discount. The real upside is if their Indian stock exchange were to go public. They buy back every share they can.