Edison Investment Research Initiates Coverage on MoneyHero

Edison Investment Research Limited has recently commenced coverage on MoneyHero (MNY), a foremost aggregator and comparison platform in the personal finance sector of South-East Asia. As announced on May 13, 2024, the firm's analysis revealed that MoneyHero stands out for its comprehensive offerings in personal finance, including insurance, which are part of its strategy to expand its market share.

MoneyHero, which went public through a deSPAC transaction in October 2023 raising approximately $87m in net proceeds, is in a robust financial position with no debt and a net cash total of $68.6m at the end of FY23. Despite being in the early stages and currently operating at a loss, MoneyHero trades at a notable discount compared to its more mature peers. Edison’s valuation suggests a potential upside, setting the fair value estimate at $4.95 per share, significantly above the current trading price.