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QuotedData’s morning briefing 16 May 2023

In QuotedData’s morning briefing 16 May 2023:

  • Apax Global Alpha (APAX) announced that it has signed a definitive agreement to acquire a significant minority stake in IBS Software through the Apax XI Fund in which APAX is a limited partner. IBS is a leading provider of modern software solutions to the global travel and logistics industry. The transaction is expected to close by Q3 2023, subject to customary closing conditions. On a look through basis, APAX is expected to invest approximately €22m in the company.
  • abrdn Equity Income (AEI) announced its half year report for the six months to 31 March 2023. The company delivered a NAV total return of 3.3% which underperformed the total return of the FTSE All-Share Index of 12.3%. However, on a more positive note, the board was encouraged by the share price total return of 13.5% during the period, which resulted in the most significant narrowing of any discount in the UK Equity Income Sector. The share price discount reduced from around 10% in November 2022 to a small premium at 31 March 2023. The discount at last close was 0.68%.
  • abrdn European Logistics Income (ASLI) has agreed to a 5-year lease extension with Dutch retail and pharmacy operator Kruidvat at its 39,840 sqm single-tenant warehouse in Ede, the Netherlands. The new deal extends the lease expiry from 2028 to July 2033 and will generate additional income reflecting a 4% increase on the previous passing rent. It provides for future upward-only indexation capped at 4% per annum.
  • Pantheon Infrastructure (PINT) announced that it will be hosting an online webinar to provide an update on its investment platform, the portfolio, the 2022 annual results and the macroeconomic and infrastructure outlook. This will be followed by an online question and answer session with representatives of PINT’s management team. The upcoming event will be held on Thursday 18 May 2023 10:00-11:00 BST. To watch the webinar, click here.

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