Investment group Sabvest Capital, which has stakes in Transaction Capital and Metrofile, says the decline in its net asset value was less than expected during Covid-19, partially due to the effects of a weaker rand.

Net asset value per share fell to 6,624c per share in the group’s six months to end June, a 0.4% decline from the end of December, as a weaker rand boosted the value of offshore investments.

The group also said it was optimistic about the recovery of most of the companies in which it invests, and would return to 2019 levels of trading, or higher, in the 2021 calendar year. 

At the end of June, Sabvest Capital had interests in 10 unlisted investments, five listed investments and an offshore cash portfolio, with total holdings of R3bn at the end of June.

The group’s single most valuable investment is a 59.9% stake in SA Bias Industries — an unlisted group that has businesses that produce safety harnesses, seat belts and cargo securing systems, among other things. This group has businesses operating in the UK and Europe.

This stake was valued at R771.4m at the end of June, from R735.6m at the end of December.

The group’s 11.1% stake in Metrofile was valued at R112.8m at the end of June, from R141.4m at the end of December.


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