7th Jun 2016 13:11
LONDON (Alliance News) - Investment company Craven House Capital PLC on Tuesday said it has incorporated three new subsidiaries.
The company intends using the new subsidiaries, in Angola, Argentina and Nigeria, to make investments in those countries and will provide further updates on this in due course.
"As stated at the time of our interim results, we feel that the current macro-economic situation in emerging markets, who are facing significant pressures as a result of a combination of low commodity prices and unprecedented capital flight, presents Craven with extremely attractive opportunities to invest in markets at what we see as being historically low valuations," said Mark Pajak, chairman of Craven House.
Craven House shares were down 1.6% to 0.91 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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