Edison values Cooks Global Foods at $0.23 per share
London-based Edison Investment Research has valued Cooks Global Foods (NZX:CGF) shares at $0.23 per share in its latest independent report on the company, issued today.
The valuation, which is calculated on the basis that the capital raising announced last week is complete, is some 92% more than the price at which Cooks shares trade on the NZAX. Last week Cooks announced it had secured conditional equity commitments totalling $9 million from China’s Jiajiayue Group Co. Ltd (JJY), and Cooks Executive Chairman Keith Jackson as part of an $18 million capital raising plan.
Edison notes its valuation is predicated on growth to 710 Esquires Coffee stores by 2021.
Cooks Global Foods
About Cooks Global Foods:
Cooks Global Foods operates in world markets and is listed on the NZAX market operated by NZX Limited in New Zealand under the code CGF. It owns the intellectual property and master franchising rights to Esquires Coffee Houses worldwide excluding New Zealand and Australia. CGF’s Esquires currently operates or franchises coffee houses in the United Kingdom, Ireland, the Middle East and China. Related businesses within the group include New Zealand-based supply companies Progressive Processors and Scarborough Fair, which supply product into both Esquires stores and other third party customers. See: www.cooksglobalfoods.com