Spheria Emerging Companies announces estimated NTA of $2.650 per share

Spheria Emerging Companies Limited announced its estimated pre-tax net tangible asset (NTA) backing per share as of September 18, 2025. The estimated pre-tax NTA was reported at $2.650. The company noted that this figure is unaudited and approximate.

NTA per share is calculated based on the daily value of the company's investment portfolio and cash balances, adjusted for management fees, performance fees, and estimated movements in operating costs and income taxes since the most recently reported weekly or monthly NTA.

The pre-tax NTA includes tax on realized gains/losses and other earnings but excludes any provision for tax on unrealized gains/losses. NTA calculations also exclude deferred tax assets related to capitalized issue cost balances and income tax losses. The announcement was authorized by company secretary Calvin Kwok.