Spheria Emerging Companies updates NTA estimates for mid-September

Spheria Emerging Companies Limited reported its estimated pre-tax net tangible asset (NTA) backing per share as of September 15, 2025. The estimated pre-tax NTA stands at $2.629. This figure is unaudited and considered approximate.

The NTA per share estimate incorporates the daily value of the company's investment portfolio and cash balances. Adjustments are made for management and performance fees (if applicable), and estimated movements in operating costs and income taxes since the last reported weekly or monthly NTA.

Pre-tax NTA includes tax on realised gains/losses and other earnings, but explicitly excludes any provision for tax on unrealised gains/losses. Furthermore, NTA calculations do not account for deferred tax assets related to capitalised issue cost balances and income tax losses. The announcement was authorised by Calvin Kwok, company secretary.