Leatt Corporation designs, develops, markets and distributes personal protective equipment for participants in all forms of motor sports and leisure activities, including riders of motorcycles, bicycles, snowmobiles and ATVs.

The company was founded by Dr Chris Leatt nearly two decades ago in South Africa and still has its headquarters in Cape Town. The company has a global network of distributors and retailers.

Leatt is publicly quoted on the US OTC market and Astoria’s stake was acquired through a combination of on-market purchases and private purchases.

Leatt Corporation
% of Astoria NAV

We value the investment at its closing share price on the OTC market, converted to rand at the prevailing exchange rate. As at 31 December 2022, Leatt traded on a 7.7x multiple of profit after tax over the last twelve months to September 2022.