Last checked at 22 Dec 2023 07:10
FOR RELEASE ON | 22 December 2023 |
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) WHICH FORMS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
IP Group plc - Top 20 portfolio company funding round
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, notes its participation today in a follow-on portfolio company funding round, for which it anticipates recording a net unrealised fair value gain of approximately £40m* or 4p per share.
IP Group has committed a total of US$15m (£11.8m*) to the funding round. Completion of the transaction is subject to certain conditions and is due to occur in mid-January 2024. Further information on the funding round, which has been supported by both existing and new investors, will be provided in due course.
The Group's directors are currently reviewing the carrying values of all assets in the portfolio as part of the usual year-end process. While it is too early to provide guidance as to the carrying values of the Group's portfolio companies, they currently anticipate that the gain relating to this investment will be offset by other fair value reductions in the portfolio.
*GBP equivalent using 1.26 USD/GBP
For more information, please contact:
IP Group plc | www.ipgroupplc.com |
Liz Vaughan-Adams, Communications | +44 (0) 20 7444 0062/+44 (0) 7967 312125 |
Portland | |
Vic Wallin Alex Donaldson | +44 (0) 7973 823119 +44 (0) 7516 729702 |
Notes for editors
About IP Group
IP Group accelerates the impact of science for a better future. As the most active UK based, early stage science investor, we develop and support some of the world's most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach. Together we have a strong track record of success, having backed high-profile companies including Oxford Nanopore Technologies plc, First Light Fusion, Hysata, and Oxa. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO. For more information, please visit our website at www.ipgroupplc.com.
ENDS