IN BRIEF: Seraphim Space net asset value rises slightly since IPO

Seraphim Space Investment Trust PLC - London-based investor in space technology - Net asset value ...

Alliance News 17 October, 2022 | 1:49PM
Email Form Facebook Twitter LinkedIn RSS

Seraphim Space Investment Trust PLC - London-based investor in space technology - Net asset value in the year to June 30 grows slightly from its initial public offering date July 14, 2021 as touts "well-placed" investment objective to grow capital. NAV per share rises 1.9% to 99.97 pence from 98.15p. "During this time, we have further validated Seraphim Space's model and strengthened our status as the leading specialist SpaceTech investor globally," says Chief Executive Officer Mark Boggett.

Firm does not pay a dividend, citing a post-tax revenue loss of GBP4.3 million. The company records a total pretax and post-tax profit of GBP3.4 million due to a GBP7.7 million net gain on investments.

Looking ahead, CEO Boggett says: "We believe that the company's portfolio is well placed to weather whatever macro-economic challenges lie ahead, with our portfolio companies remaining well capitalised." He expects demand for portfolio products and services to increase owing to "global security, food security, climate change and sustainability" challenges.

Current stock price: 53.30 pence, up 0.5% on Monday

12-month change: down 56%

By Tom Budszus; tombudszus@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Seraphim Space Investment Trust Ord 55.19 GBX 0.72

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures