Lesaka Technologies (LSAK), mcap=$326m, price $5.51 vs $4.57

– Payments company with the potential to become a fintech champion in South Africa (US listed).
– Primarily serves micro, small and medium enterprises, and underbanked consumers.
– Long-term growth asset at a discounted valuation.
– Through transformational acquisition is transitioning from mismanaged holdco into a growing operating company.
– Rockstar management and shareholders – controlled by Value Capital Partners – SA’s pre-eminent activist fund.

– Trades at 9x ‘23 EBITDA, with 25% historical EBITDA CAGR and 20% fwd growth expectation.
– At 11x ’25 EBITDA would be $12.6 stock.

Exp. gain: +180% to $12.6/share over 2-3 years.

Full $LSAK write-up (free guest account required):

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