3rd Jul 2019 14:00
(Alliance News) - Craven House Capital PLC's net asset value per share is set to increase by 17% in the six-month period to May 31, the merchant bank said Wednesday.
The net asset value per share is expected to total USD9.99, according to the company, which is due to an "investment focus in North America".
Craven House Capital said that the value of its principal investment holding company, Craven Industrial Holdings PLC, increased to USD27.6 million from USD23.9 million in the six month period, due to change in value of subsidiary holdings.
Craven House Capital's estimated six-month value increase was largely attributed to share price surges in fully owned unit Craven House Capital North America LLC and 68%-owned investment DLC Holdings Corp.
The increase was despite falls in the estimated value of the company's shares in another subsidiary Craven House Angola LDA and cement manufacturers Kwikbuild Corporation Ltd. The merchant bank owns 100% of Craven House Angola and 97% of Kwikbuild.
The electronics distributors Qeton Ltd, in which Craven House holds 50% stake, saw its value depreciate by more than half in the six month period
Shares in the company were untraded at 3.20 pence each in London on Wednesday afternoon.
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Craven House Capital