Kingfish NAV dips slightly as warrant exercise date approaches

Kingfish Limited's undiluted Net Asset Value (NAV) as of September 3, 2025, stood at $1.3274, after deducting a $0.0273 dividend per share payable on September 26, 2025. This represents a slight decrease from the August 31, 2025, NAV of $1.3332. The share price closed at $1.30 on September 3, 2025, resulting in a 2% discount to NAV, compared to a 0% discount on August 31, 2025, when the share price closed at $1.33.

The company has 86,961,524 warrants on issue, which can be exercised on May 1, 2026. The exercise price for each warrant is $1.35, less dividends declared between May 1, 2025, and the warrant exercise price announcement. To date, $0.0548 per share in dividends has been declared, with two additional dividends anticipated before the May 1, 2026, exercise date.

Kingfish, a listed investment company focusing on growing New Zealand companies, is managed by Fisher Funds Management Ltd. Its portfolio aims to provide competitive returns through capital growth and dividends. The top five holdings as of September 3, 2025, include Fisher & Paykel Healthcare (19%), Infratil (13%), Mainfreight (10%), Summerset (9%), and EBOS Group (7%).