GQG
Thoughts on GQG after the pullback re Adani matter and the announced 100M buyback
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Answer
Hi Scott,
We’re staying away from that for now. The buy back is to try and support the stock price but they are very exposed to whats playing out with Adani, and from what we’ve seen, Adani are in a lot of trouble. GQG own ~4% of the company – about $US9.4bn worth, and this will take time to work through, with lots of uncertainties. We would expect GQG to see fund outflows from this which will keep pressure on the stock.
