Ericsson wrote:Sidian Bank is dead.
Reminds me of my thinking from April 2016:
alotoftalk wrote:Sidian maybe Centum's waterloo if they don't get a strategic partner to partner with them. They'll require to pump more capital every year to support any ambitions they have to grow the former K-Rep to a tier-two bank. This will either mean they have to raise more funds by exiting their current holdings or a cash call in the near future at a time when banking returns are not as rosy as they have been the past 10 years.
Unless the strategy here is to make it M&A attractive and get a bigger bank to buy them out.
Let's see if they'll mark its value down in the H1 or maintain a lofty valuation in their books.
Chances are they're already shopping for a buyer. Any of those banks which were lining up to buy Chase Bank may receive a call with an alternative proposition.
Investment philosophy development in progress...