26th Sep 2019 13:23
(Alliance News) - Kubera Cross-Border Fund Ltd on Thursday reported a drop in first half net assets and said its directors are mulling delisting of the company from AIM market.
The company said it is "evaluating a range of cost-reduction measures" and plans to consult with shareholders.
The fund's net asset value per share at June 30 stood at USD0.12, 61% down on USD0.31 from the end of December. Its net assets were down 62% to USD12.7 million from USD33.7 million in December.
Shares in Kubera were 9.1% lower at USD0.05 in London on Thursday afternoon.
The company has interests in NeoPath Ltd, a Mauritius-based holding company and Synergies Castings Ltd, an Indian car parts maker.
In June, Kubera completed the disposal of its investment in Planetcast Media Services Ltd for USD22.0 million. It realised a gain of USD7.3 million having initially acquired media services provider for USD14.7 million.
By Eric Cunha; [email protected]
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