Kingfish NAV dips slightly, discount to share price holds steady

Kingfish Limited's undiluted net asset value (NAV) was $1.3401 as of September 24, 2025, a slight decrease from $1.3465 reported on September 17, 2025. Despite this, the share price closed at $1.30 on both dates, maintaining a 3% discount to NAV. The NAV per share is calculated after deducting treasury stock, which is currently nil.

The company also highlighted that 86,961,524 warrants (KFLWI) are on issue and exercisable on May 1, 2026, with an exercise price of $1.35 less declared dividends. Dividends totaling 5.48 cents per share have been declared to date, with further dividends expected before the May 2026 exercise price announcement.

Kingfish's portfolio is primarily invested in quality growing New Zealand companies. As of September 24, 2025, its five largest holdings include Fisher & Paykel Healthcare (19%), Infratil (14%), Mainfreight (9%), Summerset (9%), and Auckland International Airport (7%). Kingfish was listed on the NZX Main Board on March 31, 2004.