IN BRIEF: NFT Investments eyes tender offer amid widening NAV discount

NFT Investments PLC - Invests in non-fungible tokens - Says net asset value on Monday amounts to 3.61 pence per share, including 2.87p in liquid crypto assets. NFT notes "widening share price discount to NAV" and believes the best way to amend this is to return value to shareholders. "In the opinion of the directors, shareholder value can best be achieved by the company trading out the entirety of its current liquid positions at the right time and then returning capital to shareholders. The company currently intends to achieve this by purchasing its own shares through a tender offer under which shareholders would have the opportunity to sell shares on a pro-rata basis," NFT says. In addition, NFT says it has "no exposure to Silicon Valley Bank and is holding all its crypto assets in cold storage wallets in secure locations across multiple continents". It adds it has no "online crypto exchange exposure".

Current stock price: 1.51 pence

12-month change: down 34%

By Eric Cunha, Alliance News news editor

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