Woodford Patient Capital Trust (WPCT) suffered a second writedown in the valuation of one of its holdings in three weeks, it was announced on Thursday (12 September).
In a note to the market, WPCT confirmed that Link Fund Solutions, its authorised corporate director which is charged with valuing the portfolio of unlisted stocks, had reduced the valuation of an unnamed holding. The valuation change, WPCT said, was expected to hit the trust's net asset value (NAV) by 4p per share, which would take NAV down to 69p and leave WPCT trading on a 39% discount. WPCT's board said it was "unable to comment further on this revaluation at this time due to confidentiality obligations, but it will provide a further update to the market when able to do so". ...
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