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Been lots of large sells this week that has dragged the share price well under the 148p. I would suspect that after this seller clears we will be over the placing price and confirmation of our stake in You & Mr Jones is the world's first global brandtech group. Followed by a NAV update and long-awaited update to the factsheet.
Hundreds of thousands of pounds being sold off at now well under NAV at 133.00p and screaming a buy. I have topped up aa little closer to NAV.
You have to ask why they are selling in relative size and therefore what is it they know?
I have had time to take a look. It a mix of reasons. Some profit-taking. Some because Biden is bad for the UK. Some because listed private equity is often volatile at times of uncertainty. This is all factored in.
Half a million sold at 133p yesterday yet they want to charge me 139p to buy. That's not a fair price. Someone large must be accumulating for less than I can buy.
DireEmblem I emailed Jupiter/MERI but they simply said factsheets are updated quarterly and did not acknowledge the lateness.
Starling/Transferwise exposure is great but Graphcore is also doing another fundraising so that will add to the NAV. I believe the NAV is like a coiled spring and we have about 20% gain for Christmas. The US markets will rise and there will be a lag for us to buy more MERI from any profits here and the US will then help NAV reports. This is the best tech trust outside the US market
https://www.bloomberg.com/news/articles/2020-11-06/u-k-s-graphcore-said-to-raise-funds-at-over-2-billion-value
Hi DireEmblem, In private equity and that of high growth companies fundraising is always done at a higher price than paid and the dilution effect here against the market cap (just under 2 billion) is minimal. The net effect is a rise in NAV. One example is to look at is TransferWise where the premium prices paid far exceeds that of the dilution.
Maybe I need to research more I don't know for sure. Generally in fast-growing private markets fundraising happen with great regularity and the result is a NAV ahead of the previous NAV + cash. Private equity valuations are typically only done properly every 12 months (during COVID they had been adjusted). So by the time of the placing the NAV of last year is out of date. Granted by December the amount will be reevaluated anyway, but since there is a massive growth in public companies I thought Grahpcore and Starling could be in a for a greater rise than expected.