IP Group PLC - invests in companies pursuing breakthrough science and innovation, such as Oxford Nanopore Technologies PLC - Expects net asset value per share on December 31 to fall to between 111 pence and 117p, from 132.9p a year earlier. Says this is due to the market environment for early-stage investing "remaining challenging in 2023 and, against this backdrop, we saw some further softening of valuations in the final quarter of 2023". Also says: "Within this context, many of the group's leading portfolio companies made strong progress, with some significant inflection points expected in 2024." Expects to announce its 2023 results on March 13.
Current stock price: 54.41 pence, down 0.4%
12-month change: down 11%
By Greg Rosenvinge, Alliance News senior reporter
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Ip Group (IPO)