Spheria Emerging Companies reports estimated net tangible asset backing

Spheria Emerging Companies Limited announced its estimated pre-tax Net Tangible Asset (NTA) backing per share as of September 17, 2025, reaching $2.646. This figure is noted as unaudited and approximate.

The NTA per share is calculated based on the daily value of the company's investment portfolio and cash balances. This estimation accounts for management fees, performance fees (if applicable), and estimated movements in operating costs and income taxes since the most recently 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 include deferred tax assets related to capitalised issue costs and income tax losses. The announcement was authorised by company secretary Calvin Kwok.