That table refers to accounting (book) values, which are different to the "fair" values that Infratil also shows (i.e., the Independent valuations). CDC is shown in that table at NZ$694m (book value), which we all know has been long surpassed by their recent Independent Valuation, which also sent the stock price higher. The market is not looking at these accounting (book) values when it determines what a share in Infratil is worth.
From page 25 of the FY20 Annual Report: "There can be significant discrepanciesbetween sharemarket, accounting bookvalue, and fair values. As set out onpage 18, the assessed fair values ofInfratil’s investments in Tilt, Longroad,CDC, and RetireAustralia amounted to$2,952.7 million which is $1,041.8 millionmore than the $1,910.9 millionaggregate values shown in this table.Fair values reflect expected saleproceeds of the relevant asset."
Page 9 of the FY20A presentation has the range of asset values at NZ$5.6Bn - $6.3Bn. Adjust for CDC's revised January 2021 valuation and Tilt's spot price and you get to NZ$7Bn.
That table refers to accounting (book) values, which are...
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