Investment Companies News
Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).
Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).
Cordiant Digital raises £370m – Cordiant Digital Infrastructure Limited has successfully raised gross proceeds of £370m through its placing and offer for subscription of ordinary shares and issue of subscription shares at an issue price of 100p per ordinary share. Subscription shares will be issued to subscribers in the initial issue for nil value on the […]
St Peter Port Capital proposes auctioning off its remaining assets – the board of St Peter Port Capital Limited is considering auctioning off all the company’s assets and then returning the net cash proceeds to shareholders (less a small amount to cover the costs of an orderly liquidation). The shareholder consent for the appointment of a […]
In QuotedData’s morning briefing 15 February 2021: Tritax EuroBox (EBOX) has sold its asset in Lodz, Poland for €65.5 million, 15% above its most recent valuation at 30 September 2020 and, based on the company’s target gearing of 45%, delivering an attractive geared IRR of 16.5% to shareholders. They bought this is April 2019 and completed a […]
QuotedData’s weekly news show 12 February 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Immunocore upsized IPO (RTW Ventures – RTW – and Schroder UK Public Private – SUPP) Greencoat UK Wind […]
Back in December, we published a note on BlackRock Throgmorton, which we called “Infectious enthusiasm”. In it, we tried to bring out the excitement that its manager, Dan Whitestone, had about the future of the companies in his portfolio, and by implication the future of the trust. Over the two months since, the trust’s share […]
Scottish American (SAIN)has announced its annual results for the year to 31 December 2020, during which it has outperformed global equities, driven by resilient operational performance of its investee companies. Some key take-aways from the report are as follows: Dividend – the full year dividend, including a recommended final dividend of 3.00p, is 12.00p per […]
Greencoat UK Wind (UKW) has announced a placing in which it is seeking to raise up to £198 million by way of a non-pre-emptive issuance to institutional investors at 131p per share. Proceeds from the Placing will be used to repay or reduce borrowings under UKW’s revolving credit facility to allow it to fund its pipeline […]
The Renewables Infrastructure Group (TRIG) has announced that it has acquired the Grönhult onshore wind farm in Sweden. Grönhult is a 67.2 MW ready-to-build onshore wind farm located in the southwest of Sweden. The Grönhult project is being acquired from Vattenfall, the leading Swedish utility and a major developer of renewables, who will also manage the […]
Apax Global Alpha (AGA) has announced that, on 11 February 2021, the Apax X Fund, in which AGA is a limited partner, announced that it has entered into a definitive agreement to acquire a majority stake of Herjavec Group (HG), a global Managed Security Services Provider (MSSP) and cyber operations leader. The transaction is expected […]
In QuotedData’s morning briefing 12 February 2021 Tetragon Financial are holding an investor call on 26 February 2021 at 3pm (UK time) to discuss its annual report and to provide a company update. The audio conference call may be accessed by dialling +44 (0) 800 358 9473 in the United Kingdom and +1 855 857 0686 […]
Warehouse REIT buys four warehouses in Liverpool – Warehouse REIT has bought four modern warehouse units on Boulevard Industry Park in Speke, Liverpool, totalling 390,000 sq ft. The purchase price of £35m reflects a net initial yield of 5.5%. Ranging from 74,000 sq ft to 163,000 sq ft, the units are occupied by three separate occupiers […]
Syncona backs Quell financing – Syncona Ltd has made a new £25.3m commitment to a £61.0m expanded Series A financing for Quell Therapeutics. This is the largest amount of funding to date for any stand-alone engineered T regulatory cell (Treg) company [see below] and takes Syncona’s total commitment to this business to £59.3m (of which £35.1m […]
In QuotedData’s morning briefing 11 February 2021: Schroder European Real Estate says that at its Metromar shopping centre in Seville (which it owns in a 50/50 joint venture) one of the fashion anchor tenants will exercise its lease termination right. This termination accounts for approximately 3,000 sqm (14%) of the total space. The rent due will continue […]
BlackRock Throgmorton’s (THRG) annual results to 30 November 2020 saw it deliver a NAV total return of 9.1%, which was well ahead of the benchmark return of 3.8%. THRG’s market return was 8.2%, in another strong year for the UK smaller companies fund. Ability to short a defining feature but strong performance led by long positions […]
In QuotedData’s morning briefing 10 February 2021 – Syncona, a leading healthcare company focused on founding, building and funding global leaders in life science, made note of the news that its portfolio company, Autolus Therapeutics announced the pricing of its underwritten public offering in the United States of 14,285,715 American Depositary Shares (“ADSs”) representing 14,285,715 […]
UK Mortgages sells two portfolios – UK Mortgages Limited says that, on Friday 5th February 2021, UK Mortgages Corporate Funding Designated Activity Company signed agreements under which, Godiva Mortgages Limited, a subsidiary of Coventry Building Society has made a commitment to purchase two buy-to-let mortgage portfolios originated by Godiva and currently financed within the Cornhill No.6 […]
In QuotedData’s morning briefing 9 February 2021 Nippon Active Capital looks to have scored a win as Mr. Shintaro Matsuki, President of Sakai Ovex Co., Ltd, using a special purpose company, Sakai Textile Co., Ltd., has launched a tender offer at ¥ 2,850 per common share for all of the outstanding equity capital of Sakai Ovex. […]
BlackRock North American Income (BRNA) annual results to 31 October 2020 brought total NAV and market returns of -8.9% and -17.9%. By comparison, the benchmark Russell 1000 value index returned -7.5%. Performance – stock selection in utilities weighs BRNA’s underperformance of the benchmark was a reflection of stock selection, allocation decisions in utilities, and a negative contribution from […]
In QuotedData’s morning briefing 8 February 2021 – Gabelli Value Plus+ (GVP) announced that it intends to convene a general meeting in July 2021 to consider a continuation vote resolution followed by a special resolution to place the company in members’ voluntary liquidation. GVP’s largest shareholder, Associated Capital Group, has irrevocably undertaken to abstain from […]
QuotedData’s weekly news show 5 February 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: IPO boom – Next Energy Renewables, Digital 9 Infrastructure and Great Point Entertainment Round Hill Music update He […]
There can be no doubt that the COVID-19 pandemic has changed the landscape in the property sector forever. So, it has been interesting to observe how different property companies have responded with the composition of their portfolios. Any manager worth their salt would have been exiting high street retail a long time ago. But it […]
Reviewing the planned IPOs of Cordiant Digital Infrastructure and Digital 9 Infrastructure. For an industry that was once considered a bit of a dinosaur, the investment company sector has undergone a remarkable transformation over the past decade. A realisation that, if you want to invest in assets that aren’t easy to sell in a hurry, […]
Warehouse REIT (WHR) has, in two separate releases, announced the acquisition of two adjacent distribution warehouses in Harlow as well as a fundraise that aims to raise gross proceeds of up to £45.9 million. The two warehouses total 177,000 sq ft and were purchased for £13.9 million including costs. The combined property generates £1.2 million […]
Achilles Therapeutics, a Syncona portfolio company, has announced that an Independent Data and Safety Monitoring Committee (IDSMC) has completed its first review of the ongoing, first-in-human Phase I/II CHIRON and THETIS trials and has recommended that both clinical trials continue as planned. Achilles Therapeutics is a clinical-stage biopharmaceutical company developing precision T cell therapies to […]
RTW Venture Fund has provided a brief update on portfolio company Landos Biopharma’s IPO. The IPO raised US$100 million by offering 6,250,000 shares at $16.00 per share, and Landos is now listed on the Nasdaq Global Market under ticker: LABP. Landos was one of the seed assets included in the Company’s portfolio at the time of […]
BlackRock Energy and Resources Income (BERI) has announced its annual results for the year ended 30 November 2020 which show that the trust is making progress on its transition to stocks that offer exposure to the transition in the energy sector, away from carbon-based energy supplies towards alternative and renewable sources. The implementation of this […]
In QuotedData’s morning briefing 5 February 2021: Capital & Counties has announced the appointment of Jefferies International Limited as joint corporate broker, alongside the Company’s existing corporate broker UBS AG London Branch, with immediate effect. It has also announced that UBS South Africa (Pty) Limited has been appointed as its sole JSE Sponsor, with effect from […]
JLEN buys Codford Biogas – JLEN Environmental Assets is buying an electrical exporting food waste anaerobic digestion plant. The deal involved the purchase of a 100% equity stake in Codford Biogas Limited. This is the holding company for the Codford anaerobic digestion plant in Wiltshire. The plant is permitted to process 100,000 tonnes of food waste each year. […]
EPE Special Opps updates on profitable year – EPE Special Opportunities has taken the unusual step of making a trading statement on its performance for the year ended 31 January 2021. Audited accounts covering the same period will be published, probably in a couple of months. [The trust might be keen to explain its run of […]
In QuotedData’s morning briefing 4 February 2021: SDCL Energy Efficiency Income Trust have announced a £100m placing (94.3m shares at 106p). The price is a 3.9% premium to the end September NAV and a 1.4% discount to last night’s closing price. The money would go into commercial and industrial solar projects across the United States in […]