IP Group NAV falls on stock market correction
IP Group
46.40p
17:05 19/04/24
-2.32%
-1.10p
IP Group said its net asset value at May 31 had fallen to around £1.4bn, or 139 pence per share, compared with £1.7bn or 167p at December 31, 2021, due to falling stock markets and the rotation out of growth and technology stocks.
Financial Services
14,075.11
17:09 19/04/24
-0.63%
-89.84
FTSE 250
19,391.30
17:09 19/04/24
n/a
n/a
FTSE 350
4,341.08
17:09 19/04/24
n/a
n/a
FTSE All-Share
4,296.41
17:08 19/04/24
n/a
n/a
The investor said it was still well financed and had gross cash and deposits of £251m at the end of last month.
“The group has made notable investments into existing portfolio companies Istesso Ltd (£10m) and Bramble Ltd (£9.5m) as well as a number of smaller size investments into current and new opportunities across all three of our thematic focus areas of life sciences, cleantech and deeptech,” the company said on Tuesday.