15th Aug 2025 11:42
(Alliance News) - Ocean Wilsons Holdings Ltd on Friday said its investment portfolio delivered a solid second-quarter return, as it confirmed its proposed merger with Hansa Investment Co Ltd remains on track to complete next month.
The Bermuda-registered investment firm said its portfolio returned 6.2% in US dollar terms in the three months to June 30, lifting year-to-date performance to 5.1% despite what it called a "challenging macroeconomic environment" marked by trade uncertainty and geopolitical tensions.
As of June 30, the portfolio was valued at USD340.9 million, equivalent to USD9.64 per share. Including USD603.3 million of cash held before its recent tender offer, implied net asset value stood at USD944.2 million, or USD26.70 per share.
Shares in the firm were 0.7% higher at 1,148.14 pence in London on Friday morning.
Ocean Wilsons also completed the USD594 million sale of its 56% stake in Brazilian port and maritime logistics firm Wilson Sons SA in June, strengthening its balance sheet. It distributed a final dividend from that holding in July, paying USD0.59 per share.
The company subsequently returned GBP109.1 million to shareholders via a tender offer, repurchasing 7.07 million shares, about 20% of its issued share capital, at 1,543p each.
Looking ahead, Ocean Wilsons said its independent committee continues to recommend shareholders vote in favour of its all-share merger with London-listed Hansa, announced in July.
Under the agreed terms, Ocean Wilsons investors will receive 1.4925 new Hansa share units, each comprising one voting ordinary share and two non-voting 'A' ordinary shares, for each Ocean Wilsons share held.
Shares in Bermuda-based closed-ended investment company Hansa were down 1.5% at 258.16 pence in London on Friday morning. Its ‘A’ ordinary shares fell 1.1% to 251.29 pence.
The combination is expected to create a diversified, closed-ended investment company with more than GBP900 million in net assets, increased scale, broader market liquidity and cost efficiencies. The deal remains subject to shareholder approval at a court meeting on September 12, with completion targeted for late September.
By Eva Castanedo, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Hansa Inv.Ocean Wilsons