Stockholm, May 03, 2018 (GLOBE NEWSWIRE) --
NAV end of period
Per Share: SEK 2.73 / USD 0.31
Total value: SEK 1,805.9 mln / USD 208.1 mln
@ USD/SEK 8.6774
Movement in NAV over the period
SEK NAV per share +1.7% MoM and +1,7 % since last published quarterly NAV (March 2018).
USD NAV per share -2.0% MoM and -2.0% since last published quarterly NAV (March 2018).
The changes in monthly published NAV was mainly a result of TCS Group Holding's share price development and exchange rate movements.
VEF share price premium / discount to NAV
As at April 30, 2018 VEF share price (VEMF SDB) traded at a 28.2% discount to reported NAV. The adjusted discount to NAV, stripping out portfolio cash and liquid assets at book value was 34.0%.
Summary NAV composition
Top 3 equity holdings, March 31, 2018 (Share of Total NAV):
- TCS Group Holding 29.7%
- GuiaBolso 14.4%
- Creditas 12.0%
Net cash and liquid investments amounted to USD 32.4 mln (15.6% of total NAV) as at end of period.
The number of outstanding shares as of April 30, 2018 was 661.5 mln.
Vostok Emerging Finance has decided to discontinue the publishing of monthly NAV reports and focus on publishing its NAV exclusively in connection with the Company's interim reports, produced on a quarterly basis. The main reason being that the company's portfolio now consists predominantly of private, unlisted assets, with the exception of one holding, Tinkoff Bank. The valuation movement of private assets tends to be more infrequent in nature than public assets and therefore, the company has concluded that quarterly NAV updates in the interim reports is a much more logical communication channel and provides sufficient updates at this stage of our evolution.
This press release has not been subject to review by the company's auditors.
Key figures included in this NAV report are categorized as Alternative Performance Measures (APMs) which are financial measures not defined or specified in the applicable financial reporting framework IFRS. As such, these measurements have limitations and should not be used as a substitute for measures of performance in accordance with IFRS.
For further information please contact:
Henrik Stenlund, CFO, Tel +46 (0)8 545 015 50
Vostok Emerging Finance is an investment company with the goal of investing in early stage modern financial services companies across emerging and frontier markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB.
Vostok Emerging Finance's Certified Adviser on Nasdaq First North is Pareto Securities AB.
The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on May 3, 2018.
VEF_NAV_180430
Attachment
- VEF_NAV_180430 (https://prlibrary-eu.nasdaq.com/Resource/Download/37e67e51-19a2-4ef2-8faa-b5201a3ed4e2)
