29th Aug 2014 12:04
LONDON (Alliance News) - Africa Opportunity Fund Ltd Friday said its ordinary share net asset value per share decreased by 9% in the first half.
In a statement, Africa Opportunity Fund said its ordinary net asset value per share was USD1.108 at the end of June, a fall from the USD1.222 at the end of 2013.
The ordinary shares' net asset value per share was USD1.115 at the end of July.
During the period, Africa Opportunity Fund closed a share placing which raised USD29.2 million through the issue of C shares. Its ordinary shares and C shares were admitted to the London Stock Exchange's Specialist Fund Market on April 17, coinciding with the cancellation of its ordinary shares' admission to trading on AIM.
At the end of June, Africa Opportunity Fund's investment allocation for the ordinary shares was 73% equities and 27% debt.
At the end of July, the C share net asset value per share was USD0.972.
Africa Opportunity Fund ordinary shares were Friday quoted down 0.4% at USD1.06. Its C shares were untraded at USD1.00.
By Samuel Agini; [email protected]; @samuelagini
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