Blackstone Loan Financing Ltd - investment company in managed wind-down - Net asset value on December 31 is €0.9098 per redeemable share, representing a 10% NAV total return in 2023. On an IFRS basis, NAV is €0.7250 for an 18% NAV total return. ‘The difference between the published and IFRS NAV total return is the differing valuation bases, with the main driver being the discount rate used,’ Blackstone Loan Financing explains. At the end of December, the share price discount is 35% to published NAV and 19% to IFRS NAV. Shareholders back in September approved plans to sell all assets and wind down the company. Blackstone Loan Financing paid a dividend of €0.09 per share for 2023, up from €0.08 for 2022. It plans to continue to pay quarterly dividends during the wind-down process and also will start to redeem shares.

Current stock price: 48.70 pence

12-month change: down 22%

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