VN8 Moving up to the Next Tier of ASX Telcos
We added Vonex Ltd (ASX:VN8) to our long term portfolio in September when it was trading at 14 cents per share.
Yesterday it closed at a new all time high of 22 cents ... on no news.
The share price chart currently looks like VN8 wants to move higher.
VN8 is an emerging telco that services small and medium enterprises.
We invested because VN8 is not yet well known to ASX investors, but is aspiring to attain a similar valuation to its ASX listed peers:
- Spirit Telecom (ASX: SP1): $202M
- Over The Wire Holdings (ASX: OTW): $264M
- Uniti Group (ASX: UWL): $832M
All are trading at multiples of our portfolio company VN8, currently at $41M.
We hope to see VN8 elevate to its peers’ valuation bracket over the coming months, as it builds its customer base and the market becomes more aware of the story.