Primary Recommendation

ASA International - Exciting new issue in microfinance market

December 2018

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Over the month we spoke with Dirk Brouwer, CEO of microfinance lender ASA International (ASAI), a recent new issue that has travelled to a healthy premium following its placing on the Main Market at 313p on 13th July. The company provides small loans on a small scale to female entrepreneurs over the age of 15 in parts of Asia and Africa as a way to get them out of poverty. These people operate in everyday sectors such as making clothes or selling drinks and while it might sound risky, ASAI is amongst the fastest growing and most efficient operators in its space; in a purple patch between FY’13-FY’17 it increased net profit from US$7.8m to US$29.3m.Future growth looks assured with Brouwer noting that in the 12 countries ...

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