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ADIG Abrdn Diversified Income And Growth Plc

80.40
0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Abrdn Diversified Income And Growth Plc LSE:ADIG London Ordinary Share GB0001297562 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 80.40 80.00 81.00 81.40 81.20 81.40 233,913 16:35:12
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 3.49M -299k -0.0010 -812.00 251.05M
Abrdn Diversified Income And Growth Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker ADIG. The last closing price for Abrdn Diversified Income... was 80.40p. Over the last year, Abrdn Diversified Income... shares have traded in a share price range of 70.40p to 88.40p.

Abrdn Diversified Income... currently has 309,177,359 shares in issue. The market capitalisation of Abrdn Diversified Income... is £251.05 million. Abrdn Diversified Income... has a price to earnings ratio (PE ratio) of -812.00.

Abrdn Diversified Income... Share Discussion Threads

Showing 776 to 799 of 850 messages
Chat Pages: 34  33  32  31  30  29  28  27  26  25  24  23  Older
DateSubjectAuthorDiscuss
21/3/2024
16:30
"Yes, but 46%?"

Isn't it 50% at 72.5p?

HP, perhaps, but I never said what I had assumed as a share price, nor the loss upon liquidation of initial phase assets!!

Anyway, I get 48.5% discount at a share price of 72.5p and with a zero loss upon sale. I had assumed 73p (offer) and 3% loss - as I had used when I first posted something on this board. In actual fact, I suspect it will be rather less than 3%.

chucko1
21/3/2024
14:51
I have inserted an R in to my above post ;.
essentialinvestor
21/3/2024
14:43
ABDN is a headwind, for sure. I looked at all the trades they did between November and February, so at least I can say they did nothing overly stupid. Just bought three new EM bonds in small size, totalling £1.2mn (having sold three others totalling £1.5mn).


I had estimated that the average quality of person working for ABRDN on this was not especially high, and that theory is further supported by elements within the updated portfolio presentation - with spelling mistakes and inconsistencies in the order of and naming of various assets. It suggests they either still use paper and pen, or have poor computer skills. So long as they leave the portfolio intact other than selling as and when, it cannot go too far wrong from what the pure arithmetic offers.

But it is, to remind, ABRDN. Sorry, abrdn.

chucko1
21/3/2024
14:43
"Yes, but 46%?"

Isn't it 50% at 72.5p?

hugepants
21/3/2024
14:20
There 'should' also be some upside to portfolio asset values still held, from here - you would hope!!.

It is ABRDN though ;.

essentialinvestor
21/3/2024
14:10
Hope so, I got 7,973 shares yesterday at 71.76. And a very small amount today at 71.6.
essentialinvestor
21/3/2024
14:03
Yes, but 46%? Include also the income to cone, which appears to be pretty stable. In fact, of late, the NAV has been more stable and I imagine the liquid portfolio is being sold and we will see an increase to the net negative leverage (i.e. cash!) in short order.
chucko1
21/3/2024
13:05
There is perhaps also some warranted concerns on what type of discount ADIG might accept on the second traunch of assets - "opportunistic sales" the term used. Effectively entails a discount to NAV.
essentialinvestor
20/3/2024
18:31
They put out some really interesting stuff - EXCEPT, it is not synchronised. Currently, we have a January Fact Sheet, a February portfolio (extremely useful), daily NAVs and the NAVs are based on a portfolio which looks as though it is in the process of being sold down very rapidly (hence the 17.9% cash that suddenly appeared on the most recent gearing disclosure).

Some of the movements in line items from November to February have been really nasty - especially in THEIR OWN Private Funds, as well as a Blackrock fund. The liquid stuff has done OK, with gains over a bunch of EM bonds etc.

30% discount at present with 46% likely upon June capital event if no change in share price. For debt-like assets in large part? Cheap.

chucko1
20/3/2024
16:25
* now broken the November '23 low (as far as I'm aware) - so that may be any double btm blown out of the water.

Sub 70 pence on the cards, perhaps.

essentialinvestor
19/3/2024
12:23
Hope they are in an ISA or SIPP, EI. Otherwise you’ll be paying CGT on the initial return of capital…
hohum1
18/3/2024
15:19
I'm up to 44,000 shares now, book coat average at 74.6.
essentialinvestor
18/3/2024
15:11
Excellent news. I look forward to further updates
tiltonboy
14/3/2024
11:15
I hold CLDN (also trade it) on an approx 38% discount atm and with arguably a decent longer term record.

The ADIG discount only looks attractive given the wind up and dependant on how robust their NAV figure is.

Perhaps some investors question how firm that NAV figure is,
or just want to avoid a lengthy wind up process.

essentialinvestor
14/3/2024
10:57
I'm just continuing to add since I cant sensibly reconcile current share price with the £115M (38p per share) to be returned in a few months.
hugepants
14/3/2024
10:31
Under 73 pence now available on the offer, well within the quoted spread.
essentialinvestor
12/3/2024
16:50
Looking limper than a Vicar's handshake, for now.

A poor day for wider UK markets may have tested the November low today

IF, ADIG does somehow manage to make a slightly higher low, it would be a minor positive. Brave to make such a prediction though given the last few weeks.

essentialinvestor
12/3/2024
16:37
I presume that the margin used in the NAV 'normally' is wider than the redemption clause in the loan docs. I seem to recall they renegotiated it from SPENS to a bit wider when they panicked and redeemed the majority at very low Gilt rates...
cousinit
12/3/2024
16:33
@cc2014

"I looks like they have changed the way they value the 2031 bonds since yesterday to align with the redemption terms, so I assume that's another 0.7% permanently gone off the NAV."

What's changed? Accounting treatment of bonds is standard in calculating NAV's. Though this aspect of discounts is overlooked by the majority of investors.

thrugelmir
12/3/2024
15:13
Exactly, how robust is NAV, significantly more than the discount may suggest, hopefully !.

Sometimes opportunities are created, CREI recently on a market strop.
(Very different situation admittedly).
But the point remains.

essentialinvestor
12/3/2024
15:08
Fair point, albeit you'd hope wind-up situation would be helping.

But like quite a few of them, wind-up seems to be when we discover the NAV isn't quite as realisable as promised.

spectoacc
12/3/2024
15:05
This also needs to be viewed in the context of a marked general widening of UK IT discounts to NAV.

Some decent IT's selling on around 10% (plus) discounts atm.

Now if you look at the ADIG record since the last NAV in British Assets Trust form... dire does not cover it.

essentialinvestor
12/3/2024
15:00
73.2625p to buy. Agree support isn't looking too healthy.
spectoacc
12/3/2024
14:46
IF the November low goes, you could see sub 70 pence pretty quickly.
essentialinvestor
Chat Pages: 34  33  32  31  30  29  28  27  26  25  24  23  Older

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