Barings Emerging EMEA Opportunities outperforms benchmark during recovery year – Barings Emerging EMEA Opportunities (BEMO) has published its full year results for the 12 months to 30 September 2021. During the period, the NAV total return was up 36.6% while its share price increased by 35.1%, compared to the benchmark return of +33.3%. The discount […]
3i Infrastructure (3IN) has agreed to invest c.£191m to acquire a 92% stake in SRL Traffic Systems, the traffic management equipment rental company in the UK. Management has re-invested to acquire the remaining 8% stake. 3i Infrastructure has provided a further £83m of debt financing to SRL with the intention of replacing this with third party […]
In QuotedData’s morning briefing 6 December 2021: Foresight Sustainable Forestry (FSF) has announced that Blackmead Forestry II, which FSF has an option to acquire, has fully completed the purchase of two substantial afforestation opportunities in Dumfries and Galloway, Scotland. Rorie Hill, one of the key afforestation opportunities, has a freehold area of 303 hectares and […]
It has been an interesting week in the investment companies market. The vast flows into the sector, and the renewable energy area in particular, continue unabated. One of the IPOs that was doing the rounds seems to have failed to cross the finish line, however. Alinda Capital Infrastructure has missed its self-imposed deadline for announcing […]
QuotedData’s weekly news show 3rd December 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 Andrew McHattie covered the week’s top stories: Aberdeen Standard Asia Focus TriplePoint EnergyEfficiency This week’s interview was with Rob Crayfourd from CQS […]
JPMorgan China produced positive return against difficult backdrop – JPMorgan China Growth & Income has published results for the year ended 30th September 2021. The total return on net assets over the year was +4.1%. This compares with an -11.2% fall in the MSCI China Index. The company delivered a return to shareholders of -2.9%, […]
3i Infrastructure makes further investment in ESVAGT – 3i Infrastructure has agreed to acquire the stake in ESVAGT owned by its co-investor AMP Capital. This will result in 3i Infrastructure holding 100% of the equity in ESVAGT. The ticket price for this further investment is expected to be £268m. Completion is subject to certain third party […]
Downing Renewables and Infrastructure Trust (DORE) has announced that it has entered into two separate loan facility agreements: a £25 million Revolving Credit Facility (RCF) with Santander UK plc and a seven-year EUR 43.5 million debt facility with Skandinaviska Enskilda Banken AB (SEB) for its Swedish hydro assets. Both of these loan agreements have been […]
Octopus Renewables Infrastructure Trust (ORIT) has announced the results of its placing and REX retail offer that we previously reported on 19 November 2021 (click here to see read coverage of the announcement). ORIT says that it has raised aggregate gross proceeds of approximately £73.9 million (net proceeds of approximately £72.4 million), of which approximately […]
VH Global Sustainable Energy Opportunities to expand south Texas terminal storage assets VH Global Sustainable Energy Opportunities (GSEO) has announced that it has committed US$35m to fund the expansion of one of its terminal storage assets in South Texas. The investment will increase the throughput and on-site blending capacity of the site “to cater for […]
In QuotedData’s morning briefing 3 December 2021: Augmentum Fintech (AUGM) has said that, if abrdn’s proposed acquisition of AUGM’s portfolio company interactive investor goes ahead based on its understanding of the terms of the transaction, this implies a valuation for AUGM’s investment in interactive investor of £42.4 million (30 September 2021: £36.7 million) subject to […]
Life Science REIT, the recently launched real estate investment trust focused on UK life science properties, has completed its maiden acquisition with a £77m purchase in London. The group, which raised £350m in an initial public offering (IPO) in November, has bought Rolling Stock Yard, a nine-storey office and laboratory building near London’s St Pancras […]
EPE Special Opportunities backs SPAC – EPE Special Opportunities has committed to invest a total of €10m into EPIC Acquisition Corp, a newly incorporated special purpose acquisition company (SPAC) and its sponsor, EAC Sponsor Limited. Epic Acquisition Corp has announced its intention to raise up to €150m and its expected admission to listing and trading on […]
In QuotedData’s morning briefing 2 December 2021: ICG Enterprise Trust (ICGT) is investing in European Camping Group alongside funds advised by PAI Partners. The investment is being led by PAI Europe VII. ICGT will invest as a limited partner in that fund and also through a direct co-investment. Altogether, ICGT’s investment will be about €11.2m. European Camping […]
AVI claims moral victory in Third Point tussle – AVI (manager of AVI Global Trust) and three other shareholders in Third Point Investors (including Metage Capital and Global Value Fund) who together represent over 18% of Third Point’s shares requisitioned an EGM to remove Joshua L. Targoff from Third Point’s board. AVI says that the […]
Amedeo Air Four plans cash distribution and restores dividends – Amedeo Air Four Plus says that the £30m it held onto – to provide some financial flexibility – following the sale of two planes last September is no longer needed. It now plans to hand this back to shareholders. At the same time, the board […]
Residential Secure Income, which invests in independent retirement living and shared ownership property, has reported a net asset value (NAV) total return for the year to 30 September of 7.5%. In a positive set of annual results, the group also posted strong income and capital growth. Highlights included: EPRA adjusted earnings up 42%, to £7.1m […]
Chrysalis targets £125m in placing and PrimaryBid offer – Chrysalis (CHRY) has announced plans to raise £125m under its placing programme, through a placing of ordinary shares at a price of 238 pence. The issue price represents a 1.7 per cent. premium to the pro forma NAV per ordinary share* as at 30 November 2021 […]
VH Global Sustainable Energy Opportunities raises further £70m just nine months after launch – VH Global Sustainable Energy Opportunities (GSEO) has raised a further £70m pursuant to the placing it announced on 8 November 2021. Accordingly, the company will issue a total of 68,965,518 New Ordinary Shares at the placing price of 101.5 pence per […]
In QuotedData’s morning briefing 1 December 2021: Following the announcement on 3 November from BB Healthcare (BBH) that valid redemption requests in respect of 514,135 Ordinary Shares were received for the 30 November 2021 Redemption Point, the shares have been matched with buyers and sold at a calculated Redemption Price of 187.20 pence per share. It is […]
AVI Japan gets boost from Daibiru bid – Today, after market close in Japan, Mitsui OSK Lines announced a takeover bid for its listed subsidiary real estate business Daibiru at a share price of ¥2,200, a 50% premium to the undisturbed closing price. Daibiru accounted for 5.3% of AVI Japan Opportunities’ NAV ahead of this news; […]
West End landlord Shaftesbury has resumed final dividend payments after reporting a “remarkable bounce back in activity” across its portfolio. The group, which owns retails, hospitality and office space in the heart of London’s West End, has been heavily impacted by the pandemic, but its chief executive Brian Bickell said in its annual results that […]
Tritax EuroBox has acquired a logistics facility in northern Italy for €49.65m. The asset, in Piacenza, comprises two units that were constructed in 2016 and 2020 with a total gross internal area of 47,800 sqm. The units are let on two separate leases to OVS SpA, an Italian fashion brand which uses the property as […]
Shake up for Aberdeen Standard Asia Focus – prompted we think by a persistent discount, Aberdeen Standard Asia Focus’s board has been carrying out a comprehensive review of the company’s long-term strategy and has also addressed how to make it more competitive and attractive to investors, in particular, retail investors. The board is proposing the […]
In QuotedData’s morning briefing 30 November 2021: Octopus Renewables Infrastructure says that following the completion of construction of the 48MW Ljungbyholm Wind Farm in Sweden and the site becoming fully operational in June 2021, the Company has entered into a Power Purchase Agreement (PPA) over the electricity to be generated at Ljungbyholm. The counterparty to […]
End of Gresham House Strategic saga nears as board announces managed wind-down – Gresham House Strategic (GHS) has announced recommended proposals for managed wind-down of the company, proposed an initial return of capital and a return of capital by way of future tender offers and issued a notice for a requisitioned general meeting. This comes […]
Syncona co-leads funding round for cell therapies developer – Syncona has committed $25m (£19m) to Quell Therapeutics in an up to $156m (£117m) Series B financing round as co-leader alongside specialist global institutional investors Jeito Capital, Ridgeback Capital Investments, SV Health Investors and Fidelity Management & Research Company. Following the Series B financing Syncona has […]
Triple Point Energy Efficiency Infrastructure acquires Scottish hydroelectric portfolio – Triple Point Energy Efficiency Infrastructure (TEEC) has acquired a portfolio of operational, ‘run of the river’ hydroelectric power projects in Scotland for an aggregate consideration of £26.6m (excluding costs). This investment was identified in the IPO prospectus and formed part of the original pipeline. This […]
In QuotedData’s morning briefing 29 November 2021: Chrysalis (CHRY) has agreed with its manager, Jupiter, to settle 54% of the performance fee which will be paid to Jupiter for the period to 30 September 2021 in ordinary shares, while the remaining 46% will be settled in cash. The issue price of the shares is expected […]
The market doesn’t normally take kindly to potentially NAV dilutive capital raises but in the case of Grit Real Estate Income Group, which announced this week a proposed open offer and placing to raise up to $215.6m, we feel it is justified. The pandemic has heavily impacted the value of the company’s portfolio, which is […]
