(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Savills PLC - London-based real estate agent - Announces alliance between Savills Investment Management Holdings Ltd and Samsung Life, "the leading" life insurer in Korea, according to company. Says that, as part of the agreement, Samsung Life will acquire a minority interest in Savills Investment Management and commit capital of USD1 billion to Savills IM's investment strategies over the initial four years of the relationship. The transaction is expected for the fourth quarter of this year. Samsung Life will acquire an initial minority stake of 25% in Savills IM for GBP63.8 million. "This transformational alliance will be unique in the industry, combining Savills IM's existing strengths as an investment manager with extensive local transaction and asset management capability in real estate debt and equity markets, with the strong capital support of Samsung Life. It will significantly enhance and accelerate our ability to provide attractive investment products for all our investment clients," says Alex Jeffrey, chief executive of Savills Investment Management.
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IP Group PLC - London-based firm which invests in intellectual property-based businesses - Notes that portfolio company and biopharmaceutical firm Pulmocide Ltd has completed a USD92 million series C financing round. The round, which was oversubscribed, was led by Jeito Capital with IP Group committing USD10.0 million. Proceeds from the financing will be used to advance the company's lead asset PC945 through a global phase III registration program in patients with invasive pulmonary aspergillosis.
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TR Property Investment Trust PLC - investor in both the shares of property companies as well as physical property - Reports net asset value per share at March 31 of 417.97 pence, up 17% from 358.11p a year prior. Revenue earnings per share for the year ended March 31 comes in at 12.25p, down 16% from 14.62p. NAV total return is 21%, higher than the benchmark return of 16%. Increases total annual payout by 1.4% to 14.20p per share from 14.00p the year before. Looking ahead, company says: "Within our portfolio, the manager anticipates income for the year to March 2022 to be split into three broadly equal parts with one third suffering a reduction and in some cases significant cuts or even suspensions, a third with income returning to pre-pandemic levels, and the balance offering some level of increase. We do not expect total income levels to return to pre-Covid-19 levels within the current financial year, although we do expect an improvement relative to 2020/21." Expects to "supplement the dividend" again in the coming financial year.
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Apax Global Alpha Ltd - Guernsey-based private equity and derived investments-focused firm - Intends to commit USD90 million to technology investor Apax Digital Fund II. "This is in accordance with the company's investment policy to invest in new private equity funds advised by Apax," says Apax Global. ADF II aims to continue the Apax Digital Fund's strategy of investing in a balanced portfolio of minority equity and growth buyout opportunities in mid-market technology companies globally.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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Ip Group (IPO)
TR Property Investment Trust (TRY)
Apax Global Alpha (APAX)
Savills (SVS)