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QuotedData’s morning briefing 20 January 2022

In QuotedData’s morning briefing 20 January 2022:

  • Fondul Proprietatea (FP.) has sold 2,275,000,000 shares that it held in the Romanian energy business, OMV Petrom. The deal was done using an accelerated bookbuild offering at RON0.43 /share. The gross proceeds were RON978,250,000 (£164.8m) and will be used to fund the buyback programme and the payment of dividends. After this deal, Fondul still holds 1,688,548,078 shares in Petrom, 2.98% of Petrom’s share capital.
  • Scottish Mortgage (SMT) has increased its borrowing facilities with the issue of $400m in long-term, fixed rate, senior, unsecured private placement notes. These were issued as: one 30-year note for $175m with a fixed coupon of 2.99%, one 35-year note for $110m with a fixed coupon of 3.04% and a 40-year note for $115m with a fixed coupon of 3.09%. All coupons will be payable semi annually. The funding date for all three tranches was 19 January 2022.
  • Troy Income & Growth (TIGT) has announced a reduction in its annual management fee. With effect from 1 January 2022, the company has moved to a tiered annual management fee of 0.55% of net assets up to £250m and 0.50% of net assets above £250m. This compares to the previous fee of 0.65% on everything.
  • Supermarket Income REIT (SUPR) has submitted an application to the FCA for a migration of listing of its shares from the Specialist Fund Segment of the London Stock Exchange to the premium segment. The company’s market capitalisation has grown significantly since IPO from £100m in July 2017 to around £1.2bn. The move would allow its shares to become eligible for inclusion in the FTSE UK and the FTSE EPRA NAREIT Index Series.
  • AEW UK REIT (AEWU) has posted a 5.6% NAV total return for the quarter to 31 December 2021. The group’s NAV increased 3.8% to 114.21p per share, while the value of its portfolio was up 3.5% to £225.8m – driven by retail parks (6.7%) and industrial (5.2%). EPRA earnings per share was 1.8p, not quite covering the 2p dividend paid for the quarter. The company remains conservatively geared with a loan to NAV ratio of 29.84%.

We also have news that Bluefield Solar has made an acquisition

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