(Alliance News) - Investment company Apax Global Alpha Ltd on Monday said its holding in Duck Creek Technologies Inc is now valued at EUR82 million following the initial public offering of the insurance-focused enterprise software company on the Nasdaq Global Select market.
FTSE 250-listed Apax Global, which owns an undisclosed amount of stake in Duck Creek through Apax VIII Fund, also has received EUR6 million in cash since March 31 from Duck Creek and the company's pro rata share of stock offering proceeds is expected to be EUR3 million.
The valuation of Duck Creek holding represents an uplift of EUR46 million, or 0.09 Euro cents per share, based on Apax VIII's valuation of Duck Creek at June 30.
Apax Global shares on Monday morning were trading 154.47 pence each in London, up 0.7%.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Apax Global Alpha (APAX)