24th Jun 2021 15:02
Aberdeen Emerging Markets Investment Co Ltd - investment firm - Reports net asset value per share for the first half up 20% to 836.6 pence on April 30, compared to 698.3p on October 31. Notes net asset value total return for the first half to April 30 up 22%, outperforming the firm's 15% benchmark. Says net asset value per share was bolstered by a strong performance from emerging markets and the positive economic impact of Covid-19 vaccines. Investments in China and South Korea were the single largest contributor to net asset value beating the company's benchmark.
Declares third interim dividend of 5.75p per share.
Despite strong performance the company has not been able to narrow its share discount through new investor interest. Says board presently unable to narrow discount with buy back, as company falls below the Financial Conduct Authority's free float requirement that 25% of company shares are distributed to the public. Currently, only 16% of the firms shares are in public hands. Says it is "actively considering" alternative measures to reduce share price discount in coming years.
Current stock price: 722.10p, down 0.1% on Thursday afternoon
Year-to-date change: up 2.8%
By Scarlett Butler; [email protected]
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