Kingfish reports stable NAV, details upcoming warrant exercise

Kingfish Limited's undiluted net asset value (NAV) stood at $1.3332 as of August 31, 2025, maintaining a 0% discount to its share price close of $1.33 on the same date. This figure compares to an undiluted NAV of $1.3366 and a share price close of $1.33 on August 27, 2025. The reported NAV is unaudited and accounts for fees and tax.

The company also disclosed details regarding its warrants (KFLWI), noting that 86,961,524 warrants are currently on issue and can be exercised on May 1, 2026. The exercise price for each warrant is $1.35, less dividends declared by the company between May 1, 2025, and the warrant exercise price announcement. Dividends totaling 5.48 cents per share have been declared to date, with two more expected before the May 2026 exercise price announcement.

Kingfish, a listed investment company, focuses on quality growing New Zealand companies, with its portfolio managed by Fisher Funds Management Ltd. Its largest portfolio holdings as of August 31, 2025, include Fisher & Paykel Healthcare (20%), Infratil (13%), Mainfreight (9%), Summerset (9%), and EBOS Group (8%). The company aims to provide competitive returns through capital growth and dividends via a single tax-efficient investment vehicle.