GVF’s Share Purchase Plan Priced Near $1.34 NTA Offers Up to $30,000 Investment
Staude Capital Global Value Fund Limited (GVF) launches a Share Purchase Plan offering existing shareholders a chance to invest up to $30,000 at a price near its net asset value, following nearly five years without a capital raise.
- GVF announces Share Purchase Plan (SPP) for existing shareholders
- Offer price set at $1.34 or lower pre-tax NTA on 11 July 2025
- Strong historical adjusted NTA returns of 11.3% per annum over 11 years
- No negative financial year performance since inception
- SPP proceeds to be invested via GVF’s discount capture strategy
Capital Raise After Nearly Five Years
The Staude Capital Global Value Fund Limited (GVF) has announced a Share Purchase Plan (SPP) aimed at existing shareholders, marking its first capital raise in almost five years. This move responds directly to shareholder requests for new capital and comes amid a backdrop of recent market volatility, which GVF believes underscores the value of its investment approach.
Attractive Pricing Close to Net Tangible Asset Value
The new shares under the SPP will be offered at $1.34 per share or the pre-tax Net Tangible Asset (NTA) value on 11 July 2025, whichever is lower. This price represents a slight discount to the recent closing share price and the 10-day volume weighted average price, providing an incentive for shareholders to participate without incurring brokerage fees. The pricing strategy reflects GVF’s commitment to fairness and transparency in capital raising.
Consistent and Strong Investment Performance
GVF highlights its impressive track record, having delivered adjusted NTA returns of 11.3% per annum over nearly 11 years without a single negative financial year. More recently, since its last capital raise in December 2020, the fund has achieved even stronger returns of 13.1% per annum. This consistency is notable in the investment fund space and reinforces GVF’s value proposition of generating equity-like returns with a lower risk profile.
Investment Strategy and Dividend Policy
The proceeds from the SPP will be deployed using GVF’s proven discount capture strategy, which focuses on acquiring global assets trading at significant discounts to their intrinsic value. The investment team, based in Sydney and London, leverages deep expertise to identify and unlock value through catalysts. Additionally, GVF maintains a strong dividend policy, having returned 87 cents per share in grossed-up dividends since listing, with a dividend profit reserve sufficient to cover over four years of future payments at current rates.
Participation Details and Next Steps
The SPP is open to eligible shareholders registered as of 7, 00pm Sydney time on 17 June 2025, residing in Australia or New Zealand. Shareholders can apply for parcels ranging from $1,000 up to $30,000 without brokerage fees. The offer opens on 19 June and closes on 11 July 2025, with new shares expected to be issued and quoted on the ASX by 21 July. GVF encourages shareholders to consult their financial advisors or contact the company directly for further information.
Bottom Line?
GVF’s capital raise signals confidence in its strategy and offers shareholders a timely opportunity to deepen their exposure as the fund eyes continued growth.
Questions in the middle?
- How will market conditions between now and 11 July affect the final SPP issue price?
- What level of shareholder participation can GVF expect given the $30,000 cap per investor?
- Will GVF maintain its strong dividend payout amid the increased capital base?
