(Alliance News) - Apax Global Alpha Ltd on Tuesday noted that its indirect investee, Baltic Classifieds Group PLC, had started unconditional trading on the Main Market of the London Stock Exchange on Monday.
Baltic's closing price on Monday was GBP2.10. Based on this and closing exchange rates, Apax Global's remaining interest in Baltic has been valued at EUR20 million, it said. In addition, Apax's share of the initial public offering proceeds received by a subsidiary of the Apax IX Fund on its closing was EUR10.8 million.
Alongside the remaining value, this reflects an uplift of 76% of EUR13.1 million to Baltic's fair value at the end of March.
Shares in Apax Global Alpha were 1.2% higher at 204.00 pence on Tuesday in London. Baltic Classifieds was up 1.1% at 211.75p.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Apax Global Alpha (APAX)
Baltic Classifieds Group (BCG)