Spheria Emerging Companies reports updated net tangible asset estimates

Spheria Emerging Companies Limited has announced its estimated Pre-tax Net Tangible Asset (NTA) backing per share as of October 9, 2025. The estimated Pre-tax NTA was reported at $2.703. The company highlighted that this figure is unaudited and approximate.

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

Pre-tax NTA specifically 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, on October 10, 2025.