|
abrdn Smaller Cos Income Trust PLC on Monday said it is undertaking a strategic review to consider the company’s value, due to a prolonged shares discount to net asset value. Shares in abrdn Smaller Cos surged 17% to 288.00 pence each in London on Monday morning, while daily pricing figures on its website estimated NAV per share including income to be 303.50p. The Edinburgh-based investor focusing on UK small-cap stocks said its have shares have continued to trade at ‘a material discount to their NAV for a prolonged period of time’. ‘This, coupled with the company being of a small scale, has created challenges in generating improved liquidity in the company’s shares and will also restrict the company’s ability to grow over time,’ said abrdn Smaller Cos in a statement. This prompted the board on Monday to announce its intention of conducting a strategic review to consider the future of the company, stressing it still believed it remains in a position to generate returns for shareholders. The strategic review will include considering combining its assets with another investment trust, potentially alongside a cash exit. abrdn Smaller Cos said it will continue to update shareholders on the progress of the strategic review. Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
