QuotedData’s investment companies roundup – June 2018
QuotedData’s investment companies roundup – June 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2018. Kindly sponsored by Baillie Gifford.
The premium of biotech company, Syncona, rose on positive news on two of its portfolio investments. Electra Private Equity reported in its half year results released in May that it will begin a formal sales process and the discount narrowed accordingly. The NAV of Geiger Counter saw a modest decline over the month, whilst its share price remained relativity stable. Residential Secure Income continued to buy back its own shares during the month, thereby reducing the discount. The company also announced that it had acquired a portfolio of 277 homes for £31.2 million. Whilst the NAV of Premier Global Infrastructure fell in May, the share price remained relatively unchanged, narrowing the discount as a result.
Greencoat UK Wind raised £118.8m to complete the purchase of its further shareholding in the Clyde wind farms. Sequoia Economic Infrastructure Income raised £75.7m to deploy in attractive infrastructure projects and for a longer-term pipeline of opportunities. Supermarket Income REIT raised £65.0m part of the proceeds of which went to acquire the Tesco Extra in Scunthorpe from L&G Pensions Limited for £53 million NB Private Equity Partners raised £50.0m for new zero dividend preference shares dated 2024 issued at a gross redemption yield of 4.25%. Aberdeen Asian Smaller grew as some holders of its 2019 CULS converted to shares. It also issued £37m of new 2025 CULS.