Abrdn Diversified Income and Growth is in “early stage discussions” with a third party for the sale of its remaining assets as the company winds up.
The sale would encompass the private assets held by the trust through a secondary market. Currently, most of the assets are held in two tranches, with the first maturing between 2025 and 2027, and the second between 2029 and 2033.
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Currently, the board has delivered no guarantee that the terms of the agreement with the third party would be enough to recommend the sale.
“Although the market for secondary sales of private assets has in general improved recently, liquidity remains very selective and focused on the most attractive sectors. Accordingly, the Board believes there remain challenges in achieving secondary liquidity and attractive pricing for the Company’s less liquid investments,” the announcement stated.
After the trust announced its windup in February 2024, it sold its public assets in July, returning £115m to shareholders for about 38.1 p per ordinary share. The trust currently trades at a 34.5% discount.