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QuotedData’s morning briefing 6 May 2021

In QuotedData’s morning briefing 6 May 2021:

  • Schroder UK Public Private says that Oxford Nanopore Technologies has raised £195m in new capital including £125m from some new investors – Temasek, Wellington Management, M&G Investments and Nikon. In addition, existing shareholders invested £70m. The valuation in the NAV as at 31 December 2020 was based on the last funding round, which had not been adjusted for more than 12 months. Following this recent funding round, Schroder UK Public Private’s holding is being revalued  – leading to an uplift in NAV of about £22m or 6.9%. This will be reflected in the NAV as at 31 March 2021, which is expected to be announced in early June 2021.
  • Bluefield Solar’s latest NAV (as at 31 March) is 113.14p, down from 117.12p at the end of December. The main influences on the figure were the increase in corporation tax to 25% from 2023 and a further reduction to estimates of long term power prices. These have decreased by 6% over the period from 2025 to 2050. The board says the 8p dividend target for this year is still on track and is expected to be covered by earnings.
  • London office developer Derwent London said it was seeing a “marked increase in activity” as London emerged from lockdown and had agreed £5.6m-worth of new lettings so far this year (£1.3m completed and £4.3m under offer). It added 93% of rent had been collected for the second quarter, with another 4% expected by quarter end.
  • Ediston Property Investment Company (EPIC) declared a monthly dividend of 0.4167p for April, up 25% on the prior month. It said it expects to collect 93% of rent due for the current quarter.

We also have a positive NAV announcement from Standard Life Investments Property Income Trust.

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