Following shareholder approval of the implementation of a placing programme at a general meeting earlier this week, Ashoka India Equity (AIE) has now announced that it intends to conduct a fundraising by way of an initial placing, offer for subscription and intermediaries offer. This initial issue will be part of a proposed ongoing share issuance […]
Civitas Social Housing (CSH) has announced that it has completed the acquisition of 10 supported living properties across Hertfordshire, Essex, Suffolk and Wales for a total consideration of £8.6 million (excluding purchase costs). The portfolio provides adapted homes along with personalised specialist care for 41 individuals with complex mental health care needs, administered by three […]
VH Global Sustainable Energy Opportunities (GSEO) has announced that it has made a $63m commitment to fund the construction of 18 remote distributed solar generation projects across ten Brazilian states with a total capacity of 75MW. GSEO says that the fully-equity funded projects are at the ready-to-build stage and are expected to be operational in […]
In a move somewhat reminiscent of Infrastructure India’s funding arrangements (where an entity connected to its manager and largest shareholder provided debt financing to the company), JZ Capital Partners (JZCP) has issued a circular and has announced that it is calling an EGM relating to its proposed issuance of loan notes to David W. Zalaznick […]
In a bid to take action on its persistent discount, Strategic Equity Capital (SEC) has announced that it will offer shareholders contingent tenders in 2022 and 2024. A 10% tender will be offered in 2022 tender if SEC trades at a wider than average discount of 8 per cent. over the 12 months ending 30 […]
In QuotedData’s morning briefing 28 May 2021: UK Mortgages (UKML) has provided an update this morning in which it says that it has completed the sale of the second portfolio of loans originated by the Coventry Building Society that had been securitised in the Malt Hill No.2 transaction. In February 2021, UKML’s board said that […]
AVI asks Third Point Investors to tackle its discount – Asset Value Investors, managers of AVI Global Trust, have written to the directors of Third Point Investors, the London-listed hedge fund, to ask them to convene a general meeting at which a resolution would be put to shareholders: THAT the existing investment policy of the […]
Downing Renewables & Infrastructure to acquire utility company Elektra – Downing Renewables & Infrastructure has signed an exclusivity agreement with AB Edsbyns Elverk, a local Swedish multi-utility, to buy EE’s subsidiary Elektra Nät AB – a local regulated electricity distribution company – and a portfolio of three hydropower plants. The trust has submitted an indicative bid in […]
Renewables Infrastructure Group acquires two Swedish wind farms – The Renewables Infrastructure Group has announced it has exchanged contracts to acquire a 50% interest in two Swedish onshore pre-construction wind farms, Ranasjö and Salsjö. The projects are located in central Sweden and together are known as ‘Twin Peaks’, with a combined capacity of 242MW. The acquisition is […]
TR Property beats benchmark despite earnings dip – TR Property shared its annual financial report for the year ended 31 March 2021, which revealed earnings for the year were 12.25p per share, 16% lower than the prior year earnings of 14.62p. However its NAV total return was 20.7%, ahead of its benchmark total return of 15.9%, and the […]
€500m debut green bond issuance for Tritax EuroBox – Tritax EuroBox has announced the pricing of €500m of senior unsecured green bonds maturing on 2 June 2026, which were significantly oversubscribed, having generated substantial demand from institutional investors. The 2026 Notes will have a tenor of five years and an annual coupon of 0.95%. This issue will […]
Caledonia Investments achieves 54th annual increasing dividend – Caledonia Investments has published results for the year ended 31 March 2021. The NAV increased by 23.6% compared to the previous year, to 4000p while the NAV total return was 25.9%. This compares to a NAV total return of -8.1% for the year ended 31 March 2020. The company achieved its 54th […]
The Liontrust ESG Trust prospectus is out and, as promised, we are making it available here. As always, we are not recommending that you buy the shares. In fact we are not acting in any capacity with respect to the IPO. The prospectus is just provided for your convenience. There are geographic restrictions on who can invest in the […]
In QuotedData’s morning briefing 27 May 2021: Apax Global Alpha is committing $90m to the new Apax Digital Fund II. like Apax Digital, the new fund will invest in a balanced portfolio of minority equity and growth buyout opportunities in mid-market technology companies globally. Apax has a longstanding focus on the technology sector and a global reach. […]
RTW Venture backs NiKang Therapeutics Series C – NiKang Therapeutics, Inc announced on 26 May 2021 that it had completed a $200m Series C financing round. RTW Venture alongside other investment vehicles of RTW Investments, LP participated in the financing round. Investors in the Series C include Cormorant Asset Management, HBM Healthcare Investments and Octagon Capital; syndicates of funds, […]
Sharp falls in retail property hit British Land – Over the year ended 31 March 2021, British Land’s NAV fell by 16.3% to 648p. The full year dividend totalled 15.04p, based on 80% of its earnings per share, pre-COVID the dividend for the year ended 31 March 2019 was 31.0p. Headlines are: Financial performance reflects the […]
Flat year for HICL Infrastructure – HICL Infrastructure has published results for the year ended 31 March 2021. The NAV was flat at 152.3p and the NAV total return for the year was 5.5%. The company met its 8.25p dividend target for the year and says that it hopes to maintain it at this level for […]
JLEN gets an ESG-linked credit facility – JLEN Environmental has agreed a new committed multicurrency revolving credit facility (RCF) of £170m and an uncommitted accordion facility of up to £30m. The money can be borrowed in both sterling and euros and at lower interest rates than the existing facility. The innovative thing is that the interest that […]
In QuotedData’s morning briefing 26 May 2021: AVI Global produced an NAV return of 26.8% and a share price return of 29.1% over the six months ended 31 March 2021. These numbers compare well to the 13.5% return on the trust’s benchmark and help make it one of the best performing funds in its sector over […]
BB Biotech’s bet on a positive US regulatory review of Biogen’s controversial Alzheimer’s disease therapy aducanumab is poised for its denouement, with the PDUFA date – the deadline for the FDA to render an approval decision – now less than two weeks away. The Swiss investment firm acquired a stake in Biogen (accounting for 3.3% […]
Following on from yesterday’s (May 24) announcement from Gresham House Strategic’s (GHS’s) board that it will conduct a strategic review on the existing strategy against other strategies available (click here to read our news story from yesterday), it was announced this afternoon that GHS’s manager, Gresham House, had accepted the resignation of Richard Staveley, who has […]
Schroder UK Public Private (SUPP) has announced a $6.75m investment into cybersecurity company, Tessian, as part of its $65m Series C funding round. We note that this represents the first new investment for SUPP since the appointment of Schroder Investment Management as manager on 13 December 2019, following the fallout from Woodford Patient Capital. Tessian […]
BMO UK High Income’s (BHI’s) year-end results to 31 March 2021 saw it register a total NAV return of 37.4%, which was well-ahead of its benchmark (26.7% from the FTSE all-share index). BHI’s ordinary shares delivered a total return of 40.8%. Philip Webster, BHI’s manager, had this to say: “There were several legs to the outperformance; cutting some of […]
In QuotedData’s morning briefing 25 May 2021 – Lowland (LWI), the UK equity income fund, reported its interim results to 31 March 2021, with a total NAV return of 33.0% coming in well ahead of its benchmark (the FTSE all-share index). LWI’s focus on the industrial and financial sectors, as well as its value bias, drove performance. […]
New shipping trust Taylor Maritime achieves IPO target – the board of Taylor Maritime Investments has announced it will issue a total of 253,678,486 ordinary shares in its IPO on the premium segment of the LSE’s main market. This represents $253.7m at the issue price of $1.00 or the sterling equivalent, which has been fixed […]
US Solar refinances legacy loans in Heelstone Portfolio – US Solar Fund has refinanced the existing debt facilities associated with its Heelstone Portfolio – a portfolio of 22 projects acquired in 2020. The refinancing transaction required approximately $92m of the $132m recently raised by the company, while a new debt facility will be provided by […]
Gresham House Strategic announces strategic review as chair retires – The board of Gresham House Strategic has announced it will conduct a strategic review on the existing strategy against other strategies available, in order to determine the best method of providing growth in value for shareholders. The review, which will consider the continuing role of […]
In QuotedData’s morning briefing – 24 May 2021: Graham Kitchen, non-executive director and chairman of the board and nomination committee for Invesco Select, has decided to step down from 31 May. He will be succeeded as chair by Victoria Muir, who joined the board in 2015. Electra Private Equity has issued 690,566 new ordinary shares […]
QuotedData’s weekly news show 21 May 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 covered the week’s top stories: Acorn Income set to appoint BMO following strategic review Cordiant Digital Infrastructure launching a placing of C shares Schroder […]
QD view – warm fuzzy feelings? Alphabet soup time ESG (environmental, social and governance) comes up a lot in the investment world currently. There are good reasons for that. The UK government said last year that it wants to make climate-related disclosures mandatory, in line with recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD). […]
