HAL Trust: Still Trading At A Discount

East 72 Holdings88 FollowersFollow5ShareSavePlay(4min)CommentsSummaryAt 31 December 2025, HAL's disclosed NAV per share at the market value of its listed holdings was €181.84 per share.Between calendar year end and 31 March 2026, the market price of these holdings rose by 21.4% being €1,029 million or €11.39/share.A full value per share at 31 March 2026, allowing for a divestment of Atlas, is close to €23 billion or €255 per HAL share.The end quarter price of €173.60 suggests HAL Trust is still trading at a 32% discount.Unlisted businesses of HAL, including Boskalis, trade at an EV/EBITA multiple of ~7x, where profit grew 11% last year. Lemon_tm/iStock via Getty Images The following segment was excerpted from the East 72 Dynasty Trust Q1 2026 Report. One of the two companies in the top ten holdings that is worthy of a brief comment is HAL Trust (This article was written byEast 72 Holdings88 FollowersFollowEast 72 Holdings Limited was formed in May 2016 as a result of the recapitalisation of the NSX listed shell company Australian Premier Finance Holdings Limited. On 29 June 2023, East 72 Holdings Limited will delist and become an unlisted public company. Together with various leveraged investments, East 72 Holdings Limited also manages the East 72 Dynasty Trust through its subsidiary, East 72 Management Pty Limited. Note: This account is not managed or monitored by East 72 Holdings Limited, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use East 72 Holdings Limited's official channels.