5th Feb 2025 15:57
(Alliance News) - Digital 9 Infrastructure PLC on Wednesday said its net asset value fell between June and December due to portfolio performance and changes in assumptions about its investees.
The London-based investor in internet infrastructure, such as data centres and subsea fibre said its net asset value per share fell around 12% to 35 pence on December 31, from 46.6 pence on June 30.
The company said its estimated portfolio NAV was around GBP302 million at the end of 2024, down 25% from GBP403 million in June.
Digital 9 said the changes are due to the previously announced sale prices of Aqua Comms and EMIC-1, which was described as "extremely disappointing" at the time.
Key assumptions around some companies in its portfolio had also changed, the company said.
The firm said 3.3 pence of the NAV change came from adjustments for the agreed sales net of transaction costs, 7.3 pence from portfolio performance and assumption revisions, and 1.0 pence from interest on the revolving credit facility and costs from a vendor loan note.
Digital 9 shares were up 2.9% to 9.98 pence in London on Wednesday afternoon.
By Michael Hennessey, Alliance News reporter
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