Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
For those who follow him, has written a good report looking at CHRY and peers in context of performance
Sorry folks too long so PART 2
"Following that, the board will return at least 25% of realised gains.
‘As we look forward, we remain cautiously optimistic about a rebound in market activity, which could lead to opportunities to realise significant liquidity for the company,’ said Watts and Williamson. ‘In addition, the process around the “likely disposal” announced in December 2023 continues, and we hope to be able to update the market in the coming months.’
Currently, the majority of the portfolio remains well funded, with a cash balance of £16m and a position in listed fintech company Wise (WISE) totalling £11m."
"A disappointing 33% write-down in insurance disrupter Wefox has left investors in Chrysalis Investments (CHRY) pinning their recovery hopes on the disposal of the growth capital fund announced in December and the potential flotation by credit provider Klarna. Shares in the late-stage private equity fund, run by former Jupiter managers Richard Watts and Nick Williamson, edged 0.9p higher to 82.9p yesterday on news that its net asset value (NAV) per share rose by 4.09p, or 2.9%, to 147.46p in the first quarter.
Up another 1.4p to 84.2p today, the shares have rallied 59% since last October’s lows but remain well below their 271p peak in late 2021 and on a 43% discount to the portfolio’s 31 March valuation. Asset Value Investors disclosed an 8.4% stake last month.
The £62m ‘haircut’ for the unquoted Wefox reflected a drop in the valuation multiples of its stock market listed peers, upon which more emphasis is laid as the positive effect of its last funding round over a year ago wears off. It also reflects a ‘strategic repositioning’ within the business after non-executive director Mark Hartigan became executive chairman. Hartigan was previously the boss of mutual life insurer LV= until his plan to sell the business to US private equity firm Bain Capital foundered on the opposition of policyholders. Watts and Williamson also pointed out that although Wefox achieved a full month of profitability in December, that was more a result of seasonal factors, making extrapolation to a full year ‘inadvisable’. Revenues increased to $800m in 2023 while the cost base fell year-on-year.
On the flipside, Smart Pensions, a pensions platform the managers added to in March, was written up by 24%, a gain of 3.7p per share, following its most recent fundraising. The company, which was first bought in June 2021, is the third-largest position in the £487m portfolio at 12% of assets, following Starling Bank and Wefox, which respectively make up 24% and 14%. Starling was also marked up by 19% as less emphasis is laid on the price at which Jupiter sold a stake to Chrysalis last year and more weight is placed on its growing monthly profits.
Going public
Buy-now-pay-later company Klarna also rose, with recent annual results showing 22% revenue growth year-on-year, while AI has had a positive impact on its customer service function. The company’s chief executive said the company would go public ‘quite soon’ in a number of interviews over the quarter, which Watts and Williamson believe would inject the Chrysalis portfolio with £100m in cash.
They added that the ongoing ‘likely disposal’ of a separate company should be completed in the coming months.
As part of their pitch to secure overwhelming support at the recent continuation vote, the managers said that over the next three years, the first £100m of realisations would be returned to investors – likely through share buybacks – after satisfying the £50m buffer held back for
There is a log jam of positives flowing down..
1. Graphcore Sale
2. Revolution Beauty legal case
3. Klara IPO
4. Starling IPO
5. WeFox development
To name but a few..
We are struggling to sustain any strong rise, so clarity on Klarna might allow it to break the logjam
Oh yeah, it's absolutely brickin it :-)
So Klarna going great guns signing major deals with Expedia and Uber all adding additional value prior to IPO where Chrysalis are holding a chink of stock.
Market got concerns
Https://www.ft.com/content/bf34e647-d39b-4fd4-adcb-2a82179875e7
Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.
https://www.ft.com/content/bf34e647-d39b-4fd4-adcb-2a82179875e7
One repercussion is that we may see more fintechs list on stock markets over the next year. UK-listed venture capital fund Chrysalis — one of my favourite investments at the moment — has a stake of about 1.1 per cent in Klarna, on a net asset value of $11bn, whereas the rumoured IPO price is closer to $20bn. Another key holding for the investment trust is insuretech business WeFox, which is showing signs of rapid growth.
Someone hasn’t really done their homework
Hope no one gets sucked in by the ramping here and on twitter
Of course there are risks you dopey get.
You assume nobody knows about them but you. Meanwhile your own investments and shorts continue to tank.
Funny that you don’t highlight the significant risks
Most of the time it pays to be on the opposite side of the trade to JWBellamy. She/he has had some absolute stinkers this year alone. If they say it stinks we could be at £5 soon.
No why whats iffy
Anyone spotted it?
Anyone know...Klarna fine ?
Https://www.cityam.com/starling-bank-poaches-ovo-boss-to-be-chief-executive-ahead-of-planned-ipo/
Https://www.ft.com/content/9b120706-17eb-46c2-983d-53cf1e2f88fe
Https://open.substack.com/pub/theoakbloke/p/chry-stallising-value
Https://www.datacenterdynamics.com/en/news/ai-chip-maker-graphcore-in-talks-over-400m-sale/
It needed my intervention to get the two parties talking which is odd.
Why buy? https://quoteddata.com/research/chrysalis-investments-turned-corner-qd/
@broomtree, I'm in a worse position and can't even average down as ii won't let me buy any more because Chrysalis haven't filled in a form. I've emailed Chrysalis and have received a response but nothing has changed yet.
There is no doubt things are changing and that is starting to be reflected in the price….. unfortunately I need NAV to break even! Averaged down in the past and it was a mistake. Have been reluctant to add given history but it looks like the only way I might recoup some funds!