Merchants Trust slashes debt costs – The Merchants Trust PLC has entered into a new 3-year revolving credit facility with Scotiabank Europe Plc for GBP42 million. The money will be used to help repay £42m of Merchants’s Fintrust Debenture on 7 August 2019. This will significantly reduce the cost of debt. The weighted average interest rate […]
Sweden’s Calliditas Therapeutics raises SEK210m Sweden’s Calliditas Therapeutics (Nasdaq Stockholm: CALTX) has raised SEK210m in a directed share issue of 3,505,291 shares at a price of SEK 60 per share, to domestic and international investors, including the US specialist investor BVF Partners, whcih invested $12m (cSEK112m) in the placing. At the same time, three of […]
Morphosys receives milestone as GSK advances RA antibody – German biotech MorphoSys (NASDAQ: MOR), a holding of International Biotechnology Trust (IBT), has received a €22m milestone payment from its licensing partner GlaxoSmithKline (GSK) in connection with the start of a Phase III trial programme with otilimab (formerly MOR103/GSK3196165) in rheumatoid arthritis (RA). GSK will conduct four […]
JPMorgan Elect wins half of El Oro – El Oro offered its investors the option of rolling their investment into JPMorgan Elect or choosing to take cash. Well over half the money will end up in JPMorgan Elect, which is a great result for the trust. Nick Vermeulen and Christiaan Van Den Berg, both of […]
Unite Group buying Liberty Living – Student accommodation business, Unite Group, is to buy rival, Liberty Living in a £1.4bn deal ( £0.8bn in cash and £0.6bn in shares). The vendor is Liberty Living Holdings Inc., a wholly owned subsidiary of Canada Pension Plan Investment Board. The Liberty Living portfolio comprises 24,021 beds and was independently […]
Y-mAbs Therapeutics confirmed BLAs on track for this year – HBM Healthcare-portfolio company Y-mAbs Therapeutics (Nasdaq: YMAB) has confirmed it remains on target to file regulatory submissions for both of its rare paediatric cancer products this year. The company confirmed it is on track to file for omburtamab for the treatment of CNS/LM from neuroblastoma, […]
QuotedData’s James Carthew had a follow-up meeting with Adamas Finance after the publication of his article on the fund in Investment Trust Insider. The original article, like the vast bulk of James’s articles on that site, was written without the benefit of meeting the manager or its PR team beforehand – that’s because James wants […]
Gilead confirms plan to file filgotinib this year – Trust favourite Gilead (NASDAQ: GILD) announced yesterday that it expected to file its closely watched JAK1 inhibitor filgotinib – which is licensed from the Belgian biotech Galapagos (NASDAQ:GLPG) – in the key indication of rheumatoid arthritis (RA) later this year, up to 12 months ahead of the […]
Jupiter European manager heads for exit – Jupiter Fund Management and portfolio manager Alexander Darwall have spoken to the board of Jupiter European Opportunities Trust about the future management of the trust. Alexander Darwall has taken preparatory steps to launch a new investment management company, Devon Equity Management Limited, to be based in London. He is […]
Augmentum Fintech raises £25.8m after promising first year – Augmentum Fintech (AUGM) published its first set of annual results last month, (click here to read this story) and has this morning announced that it has raised gross proceeds of £25.8m through an equity issue. At the end of first yearly results period, to 31 March […]
In QuotedData’s other news 1 July 2019 Symphony International (SIHL) announced that it has, through a wholly-owned subsidiary, invested in Creative Technology Solutions. The company provides customized IT solutions to the education sector in the United Arab Emirates and increasingly in other countries in the Gulf Cooperation Council region. This represents SIHL’s first investment into the Gulf. […]
Baillie Gifford UK Growth needs more time – Baillie Gifford UK Growth has published results covering the year to the end of April 2019. For the first two months of that period, the portfolio was managed by Schroders and it managed to underperform the All-Share Index by 2.0%. Over the subsequent 10 months, under Baillie Gifford, […]
Better Capital reports results as restructuring of 2012 cell continues – The distressed investing focused private equity company, Better Capital (BCAP), has announced annual results to 31 March 2019 for its 2009 (fund 1) and 2012 cells (fund 2) respectively. BCAP invests in businesses which have significant operating issues and may have associated financial distress, […]
Alliance Trust completes transformation with subsidiary sale for £40m – Alliance Trust (ATST) has announced the completion of the sale of its subsidiary company, Alliance Trust Savings, to Interactive Investor. The total deal value is £40m; ATST expects the net proceeds to be £34.5m, which will be re-invested into its global equity portfolio. The global […]
Tufton Oceanic buys $28.3m vessel – Tufton Oceanic (SHIP) has reached an agreement to acquire a containership for $28.6m. The new ship will take the company’s fleet size to 15 vessels. The new ship has a time charter of approximately 5.5 years to a major container line and SHIP says it is going to invest […]
Sareum raises £0.8m to advance TYK2/JAk1 programmes Sareum Holdings (SAR) has raised £0.78m through a placing of 195m shares at 0.4p per share, in a move principally designed to progress its TYK2/JAK1 programmes. As a result of the placing, the company will have 3.07bn shares in issue. The funds Sareum to advance its internal programmes – SDC-1801 […]
China and India deliver for Aberdeen New Dawn – Back in October 2018, we published a research note that discussed moves by Aberdeen New Dawn’s (ABD) to take advantage of selling across Asian markets to increase its exposure to China (click here to access this research note). This has worked out well; ABD reported year-end […]
In QuotedData’s other news 28 June 2019 Origo Partners results to end December 2018 (ancient history now) show its NAV halving from 3.9 cents to 1.8 cents, down to: – (i) write offs of the company’s investments in Celadon, Gobi Coal, Staur Aqua, Fram, Six Waves, and Unipower; (ii) realised losses from the company’s sale of its […]
Woodford board wakes up – After weeks of virtual radio silence, the Woodford Patient Capital board has started to make some concrete plans for the future, although along the way it has lost one of its directors. On gearing WPCT has a borrowing facility for up to £150 million and on 26 June 2019, approximately £126.0 […]
Renewables Infrastructure buys French wind farms – The Renewables Infrastructure Group has made two onshore wind investments, increasing the proportion of the portfolio in France from 10% to 13%. TRIG has acquired a 34.6% equity interest and all of the shareholder loans in Fujin SAS, a holding company that owns a portfolio of five operational windfarms […]
Target buys Nottingham care home – Target Healthcare has completed the acquisition of a property in the city of Nottingham for approximately £7.6 million, including transaction costs, through a sale and leaseback. Constructed in 2013, Acorn House comprises 64 bedrooms, each with full en suite wetroom facilities, over three floors. It is close to the centre […]
Symphony’s MINT sells three hotels – Symphony International Holdings says that Minor International Pcl (“MINT”), Symphony’s largest investment, has entered into agreements to sell and leaseback three hotel properties in Lisbon, Portugal to Invesco Real Estate. The gross selling price for the properties is €313 million. The deal has generated a €62 million gain for MINT. […]
Gabelli Value Plus expecting a return to form for value investing – The US equities focused investor, Gabelli Value Plus (GVP), has reported annual results to 31 March 2019. A total returns summary is shown below: NAV total returns of +6.9% (-6.5% in 2018) Compared to S&P 500 total returns of +18.2% (+2.0% in 2018) […]
Syncona sells Blue Earth Diagnostics to Bracco Imaging – Syncona has reached an agreement to sell Blue Earth Diagnostics to Bracco Imaging, a global leader in diagnostic imaging for $450 million (GBP354.3 million) plus closing adjustment estimated at $25 million (GBP19.7 million). The sale delivers a 10.0x multiple, including prior distributions, on invested capital for Syncona […]
SDCL Energy Efficiency Income reports inaugural results – SDCL Energy Efficiency Income (SEIT) is one of the newer investment trusts having listed in December 2018, raising £100m. It has this morning released its inaugural set of annual results, covering the period to 31 March 2019. The market for energy efficiency is rampant globally, which has […]
Gresham House Strategic continues to see value in UK – The UK smaller companies, focused private equity style, fund, Gresham House Strategic (GHS), published its audited financial results for the year to 31 March 2019, this morning. We covered the leading return figures when the unaudited results were released in April (click here to access) […]
BlackRock Income and Growth reports H1 results with shares up 10.5% – BlackRock Income and Growth (BRIG) reported half-year results covering the period to 30 April 2019 with NAV total returns up 7.3% and the shares up 10.5% over the period. BRIG’s position in John Laing Group, the global infrastructure investor, performed particularly well, re-iterating […]
Miton UK MicroCap (MINI) has an annual redemption facility through which shareholders are entitled to request the redemption of all or part of their holding. The trust announced on 3 June 2019 that it received valid redemption requests for 14,317,907 ordinary shares for the 28 June 2019 redemption point (representing 9.4% of the issued share […]
AbbVie to buy Allergan in a $63bn deal US pharma giant AbbVie is to acquire the US-based, but Irish-domiciled speciality pharma Allergan, in a cash-and-share deal with an equity value of $63bn. he transaction is designed to expand and diversify AbbVie’s revenue base into new therapeutic areas, including what is termed medical aesthetics – Allergan […]
Standard Life Investments Property Income re-lets Bourne House – At Bourne House in Staines (a 26,300sqft office) the company took a surrender of the lease on the whole from the existing tenant, Ricoh, which had indicated it wanted to downsize, and which had a break in 2021. Simultaneously the property has been re-let on a new […]
Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.
Due to data protection policies, USA residents can not access our data.
Your content has been curated