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Oil & Gas

Pantheon International notes January rise in NAV per share

Pantheon International PLC (LSE:PIN), in its monthly report, stated its net asset value (NAV) per share at 509.3p at the end of January marking a 1% increase on the prior month.

Total NAV stood at £2.3 billion, compared to its market capitalisation in London of £1.5 billion.

It noted that over the past five years, PIP's total NAV per share return was 84%, with a total shareholder return of 32%.

Net portfolio cash flow was £3.1 million for the month, with £17.30 million in distributions against £14.2 million in calls from existing commitments.

PIP made no significant new investments during the month but noted that its pipeline suggests an active period ahead.

It continued a share buyback programme, spending £1.4 million to acquire 440,507 shares at an average price of 319.8p per share (representing an average discount of 36.4% versus NAV).

Pantheon retains a £400 million revolving credit facility, with £88 million drawn down as of 31 January.

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