Aberforth Smaller Companies (ASL) has emerged unscathed from the turbulent first half as its stock picks notched up a 5.5% total portfolio return to beat the 1.8% rise in the Deutsche Numis Smaller Companies index. Share buybacks of £37.1m in the six months to 30 June helped to slightly narrow the share price discount and […]
Unite (UTG), the UK’s biggest student accommodation provider, is to pull out of nine cities in the next two years as the real estate investment trust reorganises its portfolio around the country’s 20 strongest universities. Under pressure after a 45% share price slump since unveiling its £634m top-of-the-market acquisition of Empiric Student Property last summer, […]
Biotech Growth (BIOG) has bagged its second bid for a company in a month with Forte Biosciences, a US immunological drug developer accounting for 3% of its portfolio, agreeing to a $2.2bn cash offer from Argenx SE, a Belgian-Dutch pharmaceutical company. Argenx yesterday agreed to pay $77 a share, 40.5% more than Forte’s closing price […]
Cordiant Digital Infrastructure (CORD) says its underperforming New York data centre, Hudson Interxchange, is “closer to breakeven” after signing a major new customer contract and receiving an expansion order from an existing customer. CORD bought 60 Hudson Street for £56m in January 2022 saying it was the “most interconnected facility in one of the most interconnected […]
Literacy Capital (BOOK), the £180m UK private equity fund focused on smaller businesses, is considering a move to the London Stock Exchange’s Main Market to boost its profile with investors. Shares in BOOK, which have been on the LSE’s Specialist Fund Segment since the investment trust listed in June 2021, stand nearly 38% below the […]
Shares in CEIBA Investments (CBA) have been suspended after the £48m Cuban commercial property fund fell foul of recently strengthened US sanctions against the Caribbean island. In a statement on Friday afternoon, CEIBA, an investor in Cuba’s hotel and tourism sector, warned of the “severe immediate implications” of being placed on the US Department of […]
Tritax Big Box REIT (BBOX) has achieved planning consent on its Manor Farm data centre development near Heathrow after a six-week judicial review brought by Slough Borough Council failed to overturn the approval granted by the Ministry of Housing, Communities and Local Government last month. Chief executive Colin Godfrey said a pre-let agreement for the 107MW […]
Worldwide Healthcare (WWH) made an 89% return from a basket of biotechnology takeover targets in the 15 months to 30 June as mergers and acquisitions accelerated in the sector’s rebound from a three-year bear market. Fund manager Sven Borho told shareholders at WWH’s annual general meeting in London this week that the impressive gain from […]
Biotech Growth (BIOG) has notched up its eighth M&A (mergers and acquisitions) success this year with US pharmaceuticals giant Eli Lilly snapping up psychedelic drugs company AtaiBeckley for $2.8bn, or $6.75 a share. Shares in Nasdaq-listed AtaiBeckley, a 1.1% holding for BIOG, surged 33%, or $1.79, to $7.15 above the offer price as the market […]
Biotech Growth (BIOG) saw a big vote against the re-election of Orbimed fund manager Geoff Hsu to the board at the annual general meeting in London yesterday. Although the co-manager, who runs its £330m portfolio with Josh Golomb, was re-appointed he received the support of 63.1%, or nearly 2.9m, of votes with 36.9%, almost 1.7m, […]
