HgCapital makes additional investment into Lyniate
HGCapital Trust
479.00p
14:35 25/04/24
Private equity firm HgCapital said on Friday that it will make an additional investment into healthcare data interoperability firm Lyniate.
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HgCapital, which did not disclose terms of the deal, said the transaction would result in it investing approximately £8.1m in Lyniate, alongside other institutional clients of Hg.
The FTSE 250-listed group also stated the transaction represented an uplift on its current investment in Lyniate of £7.5m, equivalent to 21% or 1.7p per share over the carrying value of £35.4m in the firm's net asset value as of 30 September 2021.
The investment will also reduce HgCapital's outstanding commitments to invest in transactions to approximately £396.0m.
HgCapital added that based on the 30 September reported net asset value, the pro-forma NAV of the trust was expected to be £1.89bn, or 416.2p per share, while liquid resources available for future deployment were estimated to be £325.0m, or 17% of the 30 September pro-forma NAV.