(Sharecast News) - IP Group announced its participation in a follow-on funding round for an unnamed portfolio company on Friday, expecting to realise a net fair value gain of £40m, or 4p per share.
The FTSE 250 firm said it had committed $15m (£11.8m) to the funding round, subject to certain conditions, with the transaction set to conclude in mid-January.
It said the funding round had gained support from both existing and new investors.
IP Group added that it was engaged in its routine year-end review of the carrying values of all of its portfolio assets.
"While it is too early to provide guidance as to the carrying values of the group's portfolio companies, [the directors] currently anticipate that the gain relating to this investment will be offset by other fair value reductions in the portfolio," IP Group said in its statement.
Reporting by Josh White for Sharecast.com.
Ip Group (IPO)