Not to labour the point, but liquidity risk is a real thing. Just about every PDS discloses it as an investment risk. In particular for large lumpy assets like direct property and private equity. However you would normally assume this does not apply to listed companies on the ASX. Not so. NAOS in their infinite wisdom own 19% (24,337,933 shares) in a company > Move Logistics (ASX: MOV) < that currently does not have a single buyer (buy bid) on the ASX.
This makes the post-tax NTA a work of fiction because to exit this position (at this point in time) you would need to offer a block trade for a price well below the last transaction. To pull more facts into the picture, MOV is a dual listed company. It currently trades at $0.21c (NZD) on the NZX which is at a steep 40% discount (allowing for FX) to the last trade on the ASX ($.0.33c AUD). NAC shareholders should be keeping a very close eye on this core holding..
