Based on the $1.45 price of IAP reported, that amounts to 84.2c of the NTA attributable to IAP.
Based on current price ($1.555 as at time of posting) IAP amounts to 90.3c of NTA, and supports the distribution well.
As frustrating as it has been to see some recent 360 plays not come off, most have still netted a profit, and this one is heading in that direction. I'm happy to hold and watch this one play out - the distribution make holding worthwhile and the upside is in the possibility of closing the NTA gap.
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