27th Jun 2019 18:58
(Alliance News) - Kubera Cross-Border Fund Ltd on Thursday declared a USD19.8 million capital distribution to shareholders and announced a drop in net asset value following its November distribution.
As at December 31, the investor's net asset value stood at USD0.31 per share, down from USD0.37 per share. This was due to a USD5.5 million capital distribution on November 2.
Kubera will distribute another USD19.8 million to all shareholders, consisting of a USD0.18 per share payment in cash from its share premium account.
Post year end, in June, the compare disposed of its Planetcast Media Services Ltd investment for INR1.42 billion or USD10 million and it is now looking to sell its stake in Synergies Castings Ltd - valued at USD7.8 million on December 31.
Shares in Kubera closed down 4.6% at USD0.21 on Thursday.