IP Group PLC - London-based investor in intellectual property-based businesses - Tells annual general meeting on Wednesday that it remains well financed and its portfolio companies have made progress so far in 2021. IP Group had gross cash and deposits of GBP228.7 million on May 31 and net cash of GBP169.1 million. While it notes that it is set to pay its inaugural dividend, "shareholder returns will continue to be driven primarily by long-term capital appreciation". IP Group says it expects cash realisations to exceed GBP80 million in the first half of 2021. So far this year, it has invested more than GBP50 million in 32 portfolio companies and made cash realisation worth GBP16 million. IP Group will provide an update on its regular fair value assessment exercise in August.
Current stock price: 120.00 pence
Year-to-date change: up 21%
By Tom Waite; thomaslwaite@alliancenews.com
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