Update: Woodford Patient Capital suffers fresh NAV writedown

Three company valuations reduced

Woodford Patient Capital Trust (WPCT) has been subject to a fresh valuation adjustment on three of its holdings.

In a note to the market, WPCT said Link Fund Solutions intends to reduce the valuations of three more of its holdings, reflecting "the challenging fundraising environment for these businesses which may impact their ability to or the level at which they may be able to raise capital in the near-term." The trust's board said this will hit its net asset value (NAV) by 3.1p per share and will be reflected in the trust's net asset value as at close of business on 25 September. This comes after the valuation of an unnamed stock was reduced earlier this month. At the time, WPCT said the valua...