Long-standing investment company Sabvest Capital (Sabcap), run by entrepreneur and businessman Christopher Seabrooke, reported its first reduction in net asset value (NAV) in 20 years when its year-end results to December 2023 were released.

The predominantly private equity investment fund — where 94% of the nearly R5bn fund is invested in unlisted assets — reported an NAV of R109.36 a share, a slip of 0.7% year on year. This places the counter — presently trading at around R65 — at a discount of 40.4%...

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