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Digital 9 Infrastructure notes no reason for share price decline

4th Apr 2023 09:14

(Alliance News) - Digital 9 Infrastructure PLC on Tuesday said it knows of no portfolio specific factors that may have led to the recent fall in its share price.

The London-based investor in digital infrastructure said "the board maintains confidence in the group's diversified portfolio of nine high-quality data centre, subsea fibre, wireless and terrestrial fibre assets which continue to perform strongly, in line with management expectations."

Digital 9 Infrastructure shares rose 2.8% to 63.13 pence each on Tuesday morning in London, but were down 5.9% over the past 5 days and 25% lower compared to a month ago.

"The board believes that the discount to net asset value at which the company's share price currently trades materially undervalues the company and its portfolio," Digital 9 said.

Last month, the firm had said its NAV per share was 109.76 pence on December 31, which was up 4.9% from 104.62p a year earlier.

The company's investment manager bought 150,000 shares at an average of 61.40 pence on Friday, Digital 9 added.

By Tom Budszus, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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