In QuotedData’s morning briefing 7 September 2021: Augmentum Fintech has made a $10m investment in AnyFin, a Stockholm-based consumer credit refinancing company. Anyfin (www.anyfin.com) was founded in 2017 by former executives of Klarna, Spotify and iZettle, and leverages technology to allow credit-worthy consumers the opportunity to improve their financial wellbeing by consolidating and refinancing existing credit […]
Foresight branches out with Sustainable Forestry Company IPO plans – Foresight Sustainable Forestry Company, an externally managed investment company that will invest in UK forestry assets, today announces its intention to undertake an initial public offering on the main market of the London Stock Exchange, by way of an initial institutional placing, offer for subscription […]
Strong start for Digital 9 Infrastructure as it announces another equity raise – Digital 9 Infrastructure (DGI9) has completed the acquisition of Verne Holdings (or Verne Global), a data centre platform in Iceland, operating on a former NATO site near Keflavik for a valuation of approximately £231m in cash. Verne Global is the leading Icelandic data […]
In QuotedData’s morning briefing 6 September 2021: Late on Friday Custodian REIT (CREI) and Drum Income Plus REIT (DRIP) announced they had reached agreement on a recommended all-share acquisition of DRIP by CREI. DRIP shareholders will be entitled to 0.53 new CREI shares for each DRIP share, which values DRIP at £21.4m based on the closing […]
QuotedData’s weekly news show 3 September 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, Jayna Rana and Richard Williams covered the week’s top stories: Acorn Income Blackfinch Renewable European Income Responsible Housing REIT Watch it again here This week’s interview […]
This week saw two companies announce their intentions to float: Blackfinch Renewable European Income (BRET) with a fundraising target of £300m and Responsible Housing REIT which is looking to raise up to £250m. This follows eight other investment trusts across a broad range of sectors and mandates that have already launched this year, five of […]
We like a contrarian investor and one that will put its money where its mouth is. Well, step forward Regional REIT. The trust this week bought a £236m portfolio of regional offices (growing the size of its portfolio by more than a third) at a time when most are shying away from the sector with […]
Mid Wynd achieves modest returns as it increases its dividend – Mid Wynd (MWY) has posted its annual financial report for the year to 30 June 2021. During the period, its share price rose by 27.3% on a total return basis with dividends assumed to be re-invested. MWY’s net asset value per share increased by 23.2%, […]
In QuotedData’s morning briefing 3 September 2021: Mercantile (MRC) has raised an additional £150m of long-term debt through the issue of three fixed rate, senior unsecured privately placed notes. The notes, which will be funded on 8th September 2021, are: £55m maturing in 2041 with a fixed coupon of 1.98%; £50m maturing in 2051 with a fixed coupon of […]
A great start for Downing Renewables & Infrastructure – Downing Renewables & Infrastructure (DORE) has released its interim results for the six months to 30 June 2021, during which time, it raised gross proceeds of £122.5m. Its NAV increased from 98p per share immediately after its IPO on 10 December 2021, to 100.2p per share and […]
In QuotedData’s morning briefing 2 September 2021: Grainger (GRI) has raised £209m through the issue of 67,379,369 shares. The shares were placed at 310 pence, represnting a 4.6% discount to its closing price on 1 September. The private rented sector (PRS) specialist will use the proceeds to grow its portfolio of 10,000 homes. LondonMetric Property (LMP) […]
Acorn Income announces ‘scheme of reconstruction’ – Acorn Income (AIF) has announced that it is proposing a scheme of reconstruction. The board says it reviewed proposals regarding its future and following consultation with some shareholders, the board has concluded that offering a rollover of its assets into Unicorn UK Income fund, an open ended vehicle managed […]
Third Point Investors to borrow $150m as it declines second EGM requisition – Third Point Investors has entered into a loan agreement to employ gearing and will seek approval of an extension of its exchange facility as part of a previously announced package of changes aimed at enhancing shareholder value. The credit facility will see approximately $150m borrowed […]
BH Macro posts first results since combination with BH Global – BH Macro has posted its first set of results since the combination of BH Macro and BH Global, which was completed this year. The results represent the six months to 30 June 2021. During the period, the NAV per sterling share in the company […]
In QuotedData’s morning briefing 1 September 2021: PS VII Master (PSVII), an affiliated co-investment vehicle of Pershing Square Holdings (PSH) has notified Vivendi S.E. that it plans to exercise its option to acquire 52,769,098 ordinary shares of Universal Music Group, representing 2.9% of the company, for approximately $21.78 per share. This comes after the board of PSH’s […]
Regional REIT has acquired a portfolio of 31 multi-let offices for £236m. The group, which recently changed its investment strategy to be purely focused on UK offices, said the consideration to be paid to the vendor (Squarestone Growth LLP) will be satisfied by three components: the issuance of 84,230,000 new ordinary shares in the company at […]
Home REIT, which invests in a portfolio of accommodation for the homeless, is looking to raise £262m from a placing. The group has fully deployed the net proceeds of its £240m IPO in October 2020 and over 70% of its £120m debt facility, establishing a £328m portfolio providing more than 3,800 beds for homeless people across […]
Responsible Housing REIT announces intention to float, looking to raise up to £250m to invest into supported housing accommodation across the UK. Managed by BMO Real Estate Partners, part of BMO Global Asset Management, the REIT said it would aim to address a lack of available, quality accommodation catering for supported residents across a number of care […]
Blackfinch Renewable European Income targets £300m IPO – Blackfinch Renewable European Income (BRET) has announced its intention to float with a fundraising of up to £300m by way of placing, offer for subscription and intermediaries offer of ordinary shares. A placing programme will also allow the company to issue further ordinary shares in the 12 months […]
In QuotedData’s morning briefing 31 August 2021: The Renewables Infrastructure Group (TRIG) has announced a conditional offer for subscription via PrimaryBid of new ordinary shares of nil par value each. They will be issued at a price of 124 pence, being a discount of 3.6% to the mid-market closing share price of 128.6p on 27 August and a discount […]
QuotedData’s weekly news show 27 August 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, Jayna Rana covered the week’s top stories: Greencoat Renewables Shaftesbury Watch it again here This week’s interview was with David Smith from Henderson High Income – […]
With market volatility appearing to have subsided recently and its Covid-19 vaccination programme being one of the most successful (more than 75% of adults are now fully vaccinated), the outlook for the UK’s recovery is looking brighter by the day. After years of being unloved and significant underperformance, the first half of 2021 has seen […]
BBGI Global Infrastructure announces new dividend target alongside lacklustre results – BBGI Global Infrastructure (BBGI) has released its interim results for the six months to 30 June 2021. During the period, its NAV per share remained flat with its NAV stable at 137.8 pence per share. The company reiterated that it has delivered a total […]
In QuotedData’s morning briefing 27 August 2021: Primary Health Properties (PHP) has acquired the Townside Primary Care Centre and adjacent office building in Bury, Lancashire for a total consideration of £40m. The Townside Primary Care Centre is a substantial purpose-built primary care hub fully let to NHS Property Services and a pharmacy. The office accommodation is also fully […]
Greencoat Renewables calls EGM to consider new investment policy – Greencoat Renewables (GRP) has called an extraordinary general meeting, to be held next month, to consider proposed amendments to its investment policy. The amendments include adding Spain and Portugal to its definition of ‘other relevant countries’ and to clarify that investments in assets under construction or […]
British Land shares update on new strategy – British Land (BLND) has today published an update on its strategic progress, after first announcing its new business model and strategy in May 2021. Since highlighting its plans to “more actively focus capital on competitive strengths in development, active management and repositioning assets [by] investing behind campuses […]
In QuotedData’s morning briefing 26 August 2021: Stenprop (STP) has acquired Whitacre Industrial Park in Huddersfield and a portfolio of five MLI estates (the Duke Portfolio) across the UK, for a total consideration of £15.m. The combined purchase price reflects a net initial yield of 7.2% and a capital value of £64 per sq ft. Following these […]
AVI requisitions Third Point Investors to address ‘entrenched trading discount’ – Asset Value Investors (AVI), which manages AVI Global, along with three other shareholders in Third Point Investors (TPIL) have requisitioned the TPIL board to consider steps and actions to address its discount, as revealed in a letter published today. The key shareholders collectively own more […]
Ediston Property Investment Company has acquired Springkerse Retail Park, Stirling, for £21.85m, reflecting a net initial yield of 9.54%. The group has bought the 162,593 sq ft retail park from the proceeds of its sale of a Tesco supermarket, with the net operating income from the new acquisition 35% higher than the rent received from Tesco, […]
In QuotedData’s morning briefing 25 August 2021: Pershing Square Holdings (PSH) has released its half-year report for the six months to 30 June. During the period under review, it returned 7.3% in NAV terms and 4.7% in share price terms, behind its S&P 500 benchmark return of 15.2%. The discount currently stands at c. 25%, to […]
