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IN BRIEF: Duke Royalty nets profit after successful investment exit

Wed, 24th May 2023 19:15

Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Announces the successful exit of its investment in royalty partner Instor Solutions Inc, a California-based product reseller and service provider for work related to the build-out and migration of data centres. Receives net cash of USD11.2 million at closing, delivering a total gain of USD2.4 million over Duke's initial investment amount, provided to Instor in March 2023. Notes this represents the sixth and most profitable exit for Duke to date. Proceeds from the exit further strengthens Duke's balance sheet, enabling deployment into its pipeline of new investment opportunities, company says.

Current stock price: 30.00 pence, up 4.5% in London on Wednesday

12-month change: down 15%

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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