I have been looking into Power Financial PWF as it attracted my attention. The business and its collection of assets is attractive. I did a quick calculation of its sum of the assets value and it came to more than the market capitalization for PWF as below. The sum of the parts is 20% premium more than the market value of PWF, well there is a small debt of $250 Mil, but that does not explain the discount.
The discount is even more when you consider the discount to net asset value in its Pargesa holdings.
Do anyone have any insight or information that you can share with me about the company? or why would such a discount exist?