Symphony buys significant stake in Vietnamese logistics company for $42.6m – Symphony International (SIHL) has acquired a significant minority stake in Vietnam-based Indo Trans Logistics Corporation (ITL) for a consideration of about $42.6m. About ITL SIHL says that ITL, founded in 2000 as a freight-forwarding company, has since grown to become one of Vietnam’s “national […]
Highbridge Multi-Strategy set for EGM to change investment policy – The board of Highbridge Multi-Strategy (HMSF) has this morning announced that having completed its review of the options available to the company and consulted with the company’s major shareholders, it intends to convene an EGM to seek shareholder approval to change HMSF’s investment policy. Should […]
Aquila European Renewables Income makes first acquisitions – Following its launch in May (raising €154.3m), Aquila European Renewables Income (AERI) has closed on its first project acquisitions. The company has this morning announced it has bought a hydro portfolio in Portugal and a wind farm in Denmark for a combined value 26.4% of the IPO […]
QuotedData takes a look at gold after its best month in years – We recently published our July economic and political roundup (click here to access it), which consolidates extracts of statements from managers and chairmen of investment companies. Although markets were up in June, there is little doubt that these are tense times, in […]
Woodford Watch – Proton Partners This morning the talk on Woodford Patient Capital seems to be centred around Proton Partners. This was quite a significant holding (7.8% of gross asset value) within Woodford Patient Capital when it last disclosed its list of holdings. Now it looks as though it may be its largest investment. Proton […]
Sequoia Economic Infrastructure Income Fund (SEQI) has announced its annual results for the year ended 31 March 2019, in which it says it is increasing its dividend target to 6.25p per share. The chairman, Robert Jennings, describes these as “another strong set of results for the year, underpinned by the continued portfolio performance. In light […]
Aberdeen Standard European Logistics Income(ASLI) has announced that it has published a circular, convening a general meeting, at which approval will be sought from shareholders for both a £100m equity fundraising and a 12-month share issuance programme. The fundraising is to be a placing, open offer and offer for subscription of 100 million Ordinary Shares, […]
No respite for Jupiter Green investors – Jupiter Green’s results, covering the year ended 31 March 2019, offer little joy for its shareholders. the trust has underperformed its benchmark by 7.4% (returning -1.4% against 6.0% for the FTSE ET100 Total Return Index). The shares fell by 4.6% over the period, failing to react positively to […]
Cantargia aism for first results of key study in Q4 – Sweden’s Cantargia (CANT) expects to report the first efficacy data from lead product nidanilimab in the fourth quarter of this year, some months earlier than expected, after quickly reaching its target recruitment of 20 patients – six with non-small cell lung cancer (NSCLC) and […]
Flat year for Miton Global Opps – after a run of award-winning performance, Miton Global Opportunities reported a negative 0.3% total return for the year ended 30 April 2019. The trust’s benchmark is 3-month SONIA +2% -which worked out at 2.7% for the period. A shift to trading on a small premium gave shareholders an […]
FDA surprises with controversial OK for Karyopharm’s selinexor – US Biotech Karyopharm Therapeutics (Nasdaq:KPTI) saw its stock jump 36% yesterday on news that the FDA has granted an accelerated approval to its anticancer Xpovo (selinexor), a nuclear export inhibitor, for late-line relapsed or refractory multiple myeloma (RRMM). The news surprised many specialist investors as the application […]
Oncimmune expands network with EarlyCDT Lung deal with Russia’s R-Pharm UK biotech Oncimmune (ONC) has expanded its distribution network for its lead product, the EarlyCDT Lung liquid biopsy test, with the signing of a deal with Russia’s R-Pharm JSC. The deal comes a week after Oncimmune announced an agreement with the US company, Biodesix, to commercialise the […]
PRS REIT updates on progress – PRS REIT has updated the market on the final three months of its financial year ended 30 June 2019, and provided an overview of progress over its first two years. Since launch on 31 May 2017, 1,173 new homes have been delivered, generating a rental income stream of GBP10.7m […]
In QuotedData’s other news 4 July 2019: Ashoka India Equity raised £5m from its issue of stock – it will issue 4,742,972 of its shares at a price of 111.7p. Cambria says that Payserv Africa Limited and Paynet Zimbabwe (Pvt) Ltd have instructed their legal practitioners in Zimbabwe, Titan Law, to commence legal action against the Bankers […]
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 […]
