Member Info for Cvajt2

I imagine that if the product trials are positive then LocateBio would be a prime target to be snapped up by a larger pharma/medical implants/surgical instruments company.

ii is stating ex-entitlement date 01 Sep with receipt of share 13 Sep.

Article in The Times today (below). A value of £1.5-2bn would be a huge boost to Aug. I think the carrying value in the latest Aug results was close to £900m. Interesting to see little market reaction today. Definitely plenty of upside still in Aug shares.

Interactive Investor holds audition for float adviser
August 20 2021, The Times

Interactive Investor has moved closer to a stock market flotation that could value it at £1.5 billion or more after asking bankers to pitch to advise it.
The platform, which counts 400,000 private investors among its clients, has held a beauty parade before appointing advisers to a float probably to take place next year, according to Sky News.

The Manchester-based company is one of the big three platforms for DIY stockpickers alongside Hargreaves Lansdown and AJ Bell and has made no secret of its ambition to float.

It would be the company’s second time on the London market. It listed on Aim, the junior market, at the peak of dotcom mania in February 2000, quickly fizzled out and was rescued by Australian Mutual Provident a year later. It then became the subject of a buyout backed by the private equity group JC Flowers, which still owns a 50 per cent stake.

Interactive has been a big beneficiary of both lockdown and booming stock markets. It won 32,000 new clients and an extra £3.6 billion of assets under management in the first half of the year, taking its total to almost £55 billion.

It has not disclosed profits but Sky quoted unnamed bankers who said it could be valued at £1.5 to £2 billion. Last year the company received a £675 million valuation when it issued new shares to buy the Share Centre.

Interactive bills itself as good for wealthier investors because it charges a flat-rate monthly fee regardless of the value of the assets held. Its average balance per client was £96,000 last year.

The company is headed by Richard Wilson, who has been a cheerleader for the rights of small investors and the need to give them full access to flotations. He has not disclosed his stake.

DueDil stake was never disclosed as a discrete amount in accounts but rather lumped together in ‘other’. Was originally a £2m investment in 2018. It is unclear whether the stake has been written down in the past. Given the news that it has been merged at nil-value would imply that the writing has been on the wall for a while and given AUG conservative accounting I assume impact on NAV is negligible in the grand scheme of things. It’s a shame though as regtech is touted as a growth area.

It’s just interesting that there hasn’t been a portfolio update RNS. Equally the half year 21H1 numbers that came out of ii were very positive

Missed this story that DueDil is merging with another company. Looks like Augmentum stake is being wiped out in the process. Interesting there has been no update to the market from Augmentum related to this.

https://www.altfi.com/article/8192_exclusive-data-group-duedil-to-merge-with-artesian-solutions-after-failing-to-raise-funding

Many reasons. Some of their listed investments (Autolus and Harpoon) have been performing poorly. Many holdings are private and thus usually discounted as illiquid and difficult to value. Management churn and trying to redefine and articulate a strategy based on pressure from Acacia.

The solvency II ratio seems to have climbed considerably. Is anyone aware of what the regulatory minimum or target is for MNG?

Looks like a positive move beefing up the board and maybe looking towards an ipo or sale. The early reviews of the Fracked demo for PSVR looks very positive. Hoping this summer could be a game changer for ndreams.

The movement in this share price of late isn’t too surprising since the Harbour Energy creation. At present it is very difficult to ascertain what the fair value of the company is as we haven’t had a full financial update. The numbers in the latest trading update were disappointing on production and difficult to drill into details on finance. The presentation published at the time of the merger was scant on detail. Looking at the news flow related to this share (oil down, Zama debacle, Argentina etc.) and the lack of detail it’s not too surprising that the market isn’t rewarding shareholders. Also need to remember that there is a stock overhang on this share from lenders forced to take equity. At present I’m holding and trying to avoid the fact my holding in this has moved into a loss.

Was suppose to be admitted to the market at 8am this morning.

Looks like the Onfido IPO is gaining pace. Switch to US accounting standards and recent job advert for senior accountant with US licence etc. Any thoughts on if Augmentum will sell into the IPO to reduce or exit its position or keep and hold?

Interesting to see Simon Thomson commenting on AUG in this weekend’s IC. Approval of latest portfolio updates and cash raise. Raised target price to 160p.

Held since 2019 and seen a nice steady rise in this share. A good LTH for my ISA. Disappointed to see the pull back from 170s but I am taking part in the fundraise.

Looking forward to hopefully see ii IPO this year but I think that has been the eternal rumour for the last couple of years.