Barramundi NAV nudges above share price, signals market shift

Barramundi's undiluted Net Asset Value (NAV) stood at $0.7138 as of September 10, 2025, reflecting a 1% premium compared to its share price close of $0.71 on the same date. This marks a change from September 3, 2025, when the NAV was $0.7047 and the share price closed at $0.72, representing a 2% discount. The NAV per share calculation accounts for treasury stock, which is currently nil.

The company has 85,179,108 warrants outstanding, exercisable on August 7, 2026, at a price of $0.70 less declared dividends. As of the announcement, 1.41 cents per share in dividends have been declared, with three more expected before the exercise date. Barramundi's portfolio, managed by Fisher Funds, focuses on Australian growth companies.

The five largest portfolio holdings as of September 10, 2025, include CSL (8%), Seek (7%), WiseTech (6%), Macquarie Group (5%), and Brambles (5%). Barramundi, listed on the NZX Main Board since October 26, 2006, invests in listed Australian companies and may also invest in unlisted companies.