RCS - Seraphim Space Inv - Update from QuotedData
11/11/2024 17:15
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RNS Number : 7671L Seraphim Space Investment Trust 11 November 2024
Seraphim Space Investment Trust - Update from QuotedData
11(th) November 2024
Entering Orbit
Seraphim Space Investment Trust (SSIT) continues to see its portfolio of
cutting-edge space-focused companies ('SpaceTech') achieve key milestones.
Over SSIT's financial year, its companies raised $900m in new investments,
with SSIT contributing £11m across 10 investments. Notable examples are the
oversubscribed initial public offering (IPO
(https://quoteddata.com/glossary/ipo/) ) of Astroscale, the successful capital
raise of D-Orbit, and the soaring share price of AST SpaceMobile. This has
resulted in positive net asset value (NAV
(https://quoteddata.com/glossary/nav/) ) growth for SSIT during the period.
SSIT's portfolio companies, which specialise in revolutionary surveillance
satellites, telecommunications, and space logistics, have also made
significant progress towards profitability, with several expected to reach
this milestone in 2025. SSIT's management hopes that the overall portfolio
will achieve profitability by that time as well.
Despite these successes, SSIT's shares continue to trade at a
significant discount to its NAV
(https://quoteddata.com/glossary/discount-to-nav/) , currently about 52%,
which should be seen in the context of the broader selloff in growth stocks
and investment trusts. We note that SSIT has yet to fully benefit from the
effects of falling interest rates, which can disproportionately benefit high
growth companies, unlike some comparable investments. This could present a
potential opportunity for investors.
Full Research:
https://quoteddata.com/research/seraphim-space-investment-trust-entering-orbit-qd/
(https://quoteddata.com/research/seraphim-space-investment-trust-entering-orbit-qd/)
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NB: Marten & Co was paid to produce this note on Seraphim Space Investment
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