28th Sep 2018 18:15
LONDON (Alliance News) - VinaLand Ltd on Friday said its net asset value decreased in the first half of 2018 following a disposal of its investments.
The investment company said net asset value per share dropped to USD0.29 in the year to the end of June compared to USD0.94 reported at the same time a year earlier.
During the year, the company said it purchased and cancelled 94.6 million shares. As a result, the share price-to-NAV discount narrowed to 13% from 17% seen at the end of financial year 2017.
The stock closed down 1.7% on Friday at USD0.29 each.
The company also said it returned USD131.2 million to its shareholders.
VinaLand completed nine full divestments and one partial divestment in its financial year, resulting in net proceeds of USD201.2 million. The company now has two remaining assets that it expects to dispose of in the coming months, it said.
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