In QuotedData’s morning briefing 19 July 2021: BB Healthcare (BBH) has published its half-year results for the six months to 31 May. Its share price total return was 8.3% while its NAV return was 7.1%, both ahead of the MSCI World Healthcare Index which was up 3.9%. BBH’s shares traded, on average, at a 1.2% premium […]
QuotedData’s weekly news show 16 July 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew and Richard Williams covered the week’s top stories: AVI/Third Point update Hipgnosis/ Round Hill music update Aberdeen New Dawn turns performance around PRS REIT […]
GCP Student Living (DIGS) has received a takeover bid valuing the company at £969m. The bid by Scape Living (funded by APG – a current shareholder in DIGS) and iQ (funded by Blackstone) is at a large premium to both its share price and net asset value. The bid price of 213p per share is […]
India has made major headlines since the start of the year as it has been hit by one of the deadliest waves of the coronavirus pandemic, with almost 410,000 deaths and 31m cases – and these are only reported instances. Experts believe the actual toll is much higher. It is also supposedly where the Delta […]
There has been an awful lot of conjecture surrounding the future of the office and not of lot of data on which to pin anything on. Well, that seems to be changing as some of the big London developers update the market on recent activity and letting brokers’ deal flow data start to reveal trends. […]
Lar España, which owns a portfolio of shopping centres in Spain, has successfully closed an issue of €400m of senior unsecured green bonds. The issue was four times oversubscribed and the bonds have a fixed annual coupon of 1.750% and mature at the end of 2026. Ratings agency Fitch has assigned a BBB investment grade […]
The initial public offering (IPO) of UK Residential REIT failed to raise its target £150m. The investment company announced its intention to float at the beginning of June and was hoping to announce its initial fundraising on 14 July and enter the market on 16 July, according to the prospectus. [QD comment: It’s slightly surprising that this […]
Round Hill Music Royalty Fund’s (RHM’s) C-share placing has raised gross proceeds of US$86.5m, which significantly exceeds the target minimum capital raise of US$50m. The company says that it intends to use the net proceeds of the C Share Offer together with the remaining undrawn balance of its existing revolving credit facility to assist in […]
SDCL Energy Efficiency Income (SEIT) has agreed to invest approximately $31 million in a large-scale green gas-to-grid project in Indiana, in the US. The anaerobic digestion (AD) facility, which is located in Reynolds, has been operating since 2012. It currently converts cattle manure and food waste into 6 MW of renewable power. This power is […]
In QuotedData’s morning briefing 16 July 2021: Polar Capital Technology Trust (PCT) has announced that it now expects to announce its annual results for the year ended 30 April 2021 on Wednesday 21 July 2021 (previously scheduled for Thursday 15 July 2021). There will be a conference call for analysts on the day of the results at […]
Aberdeen New Dawn turns performance around in ‘year of upheaval’ – Aberdeen New Dawn (ABD) has posted its annual results for the year to 30 April 2021, during which time it delivered a 48.3% share price total return and a 43.4% NAV total return. This was a significant turnaround on last year’s results which saw […]
In QuotedData’s morning briefing 15 July 2021: Schroder BSC Social Impact (SBSI) has invested a further £5m into Social and Sustainable Housing LP (SASH), following its first £5m commitment in December 2020. The holding sits in SBSI’s high impact housing allocation of its portfolio. Following this development, the trust’s portfolio is now 97% committed, with 66% […]
In QuotedData’s morning briefing 14 July 2021: Apax Digital Fund, which is backed by Apax Global Alpha, is making an investment in Tide as part of a series C funding round. Tide, a business financial platform offering business accounts and related banking services, as well as a comprehensive set of integrated software solutions, is already a […]
Hg Capital backs insightsoftware, which describes itself as a global provider of enterprise software solutions for the ‘Office of the CFO’. The Hg Saturn 2 Fund will make a c.$1bn equity investment in insightsoftware to become a significant minority shareholder alongside TA Associates. The transaction values the business at an enterprise value of around $4bn. […]
In QuotedData’s morning briefing 13 July 2021: The Third Point Investors board has responded to AVI’s requisition and says that it will not convene the requested meeting as legal advice it has received says that “the resolution proposed in the Communication would fall under the legal definition of ineffective”. Basically, the argument is that the resolution […]
Bye bye Gabelli Value Plus – at the general meeting of shareholders held today (separate from the AGM), shareholders voted against the continuation of the company with 2,231,369 shares voted for continuation and 48,599,027 shares voted against continuation. Additionally, shareholders approved, by 50,411,092 to 419,304 the liquidation of the company. In both cases, 26,889,101 votes […]
We have lift off! – Seraphim Space raises £178.4m Seraphim Space Investment Trust, which will invest in a diversified international portfolio of early and growth stage space technology businesses, is pleased to announce that it has successfully raised gross proceeds of approximately £178.4m from its initial issue of shares. The money raised from the initial […]
Aberdeen Standard European Logistics Income (ASLI) has acquired an urban logistics warehouse in Barcelona, Spain for €18.8m and a net initial yield of 3.7%. The group has also provided an update on one of its tenants, Office Depot France, which went into administration earlier this year. The company said it was increasingly likely that the […]
Independent Investment Trust reveals unchanged interim dividend after tough period – The Independent Investment Trust (IIT) has released its interim report for the six months ended 31 May 2021. During the period, is NAV rose by 15.8% while its share price total return was up by 11.7%. This compares with the FTSE All-Share index which […]
Gresham House Energy Storage raises £100m to fund pipeline projects – Gresham House Energy Storage (GRID) has raised gross proceeds of £100m through the issue of 89,285,714 ordinary shares of 1p per share following a placing announced earlier this month. The placing was significantly oversubscribed and a scaling back exercise was undertaken. GRID intends to […]
In QuotedData’s morning briefing 12 July 2021: JPMorgan Global Core Real Assets (JARA) has called and funded a further $10,051,474 of its committed capital. This was called by its global transport income strategy and completes the planned exposure to this sector, further increasing JARA’s dividend cover given the high yielding nature of the strategy. Following this, […]
Urban Logistics REIT has raised £108.3m in an equity raise. The group said the placing was materially oversubscribed above the £108m target and a scaling back exercise was carried out. A total of 65,870,766 placing shares (£102.1m) in the company have been conditionally placed at an issue price of 155 pence per share. Additionally, a total […]
The last few weeks have given English football fans – and probably non-football fans alike – a much-needed boost of energy and excitement after 18 months of on-and-off staying at home. After Wednesday’s Euro 2020 semi-final against Denmark, which saw England win 2-1 and make history by reaching its first major men’s final since 1966, […]
Yet more news of a potential takeover of a listed property company came to the fore this week, as private equity groups continue to circle the discounted real estate sector. Due to COVID uncertainty, many property companies have been trading at discounts to net asset value (NAV) for many months now. Despite the successful rollout […]
QuotedData’s weekly news show 9 July 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew and Richard Williams covered the week’s top stories: AVI/Third Point update HydrogenOne IPO GCP Student Living potential takeover Watch it again here This week’s […]
Atlantis Japan Growth (AJG) has announced its annual results for the year ended 30 April 2021., during which it significantly outperformed the TOPIX Total Return Index. During the year, AJG provided an NAV total return of 22.9% and a share price total return of 31.3%, both significantly ahead of those of the TOPIX Total Return […]
Augmentum Fintech (AUGM) has announced the results of its fundraising, which hit its expanded £55m target (originally the capital raise was going to target £40m but, reflecting strong interest and the strength of the company’s pipeline was subsequently extended to £55m). The raise has achieved gross proceeds of £55 million through the issue of 40,590,406 […]
TwentyFour Income Fund (TFIF) has announced its annual results for the year ended 31 March 2021, during which income to investors remained strong. Its NAV per share rose from 94.19p at the start of the year to 112.75p, for an NAV total return of 27.40%, while it paid a dividend of 1.9p to cover the […]
In QuotedData’s morning briefing 9 July 2021: RM Secured Direct Lending (RMDL) has announced that it has put in place an “Irrevocable Buy Back Programme” whereby its joint brokers (Singer Capital Markets Limited and Peel Hunt LLP) have been given authority to buy back the company’s ordinary shares (within certain pre-set parameters), should these trade at […]
Great Portland Estates signed lettings worth £12.7m of new annual rents in three months to the end of June, with further £14.9m under offer, it said in a trading update. The central London office developer’s chief executive Toby Courtauld said momentum was building. The new lettings, which included £8.0m of retail space, were 9.3% ahead […]
