Ip Share Discussion Threads

[buywell3] 15/7/2019 07:52

I wonder if woodford will sell again on any rise ?

[guildedge] 10/7/2019 20:40

Interestingly St James's Place (Cleared fully), Invesco and Woodford all reducing on Circassia Pharmaceuticals in last week. No wonder share price is down to 17p.

Good recovery by IPO today. I think someone is buying up the sold stock. Still a risk that St james could start selling here too once they evaluate their holdings.

You will know the bad holdings when Invesco, St James's Place and Woodford all start to reduce. I suspect the above firm is a one off investment that went bad. In most cases they can't do this as private firms.

See what results bring.

[guildedge] 10/7/2019 00:01

Not a great day for IPO. Woodford has begun selling off shares here. Plus IPO dumping a large chunk of their shares in Circassia Pharmaceuticals. CP share price down to 18p from 50p in January. It was 100p in 2018. 300p a couple of years before that. They lost 14m on this share in 2018 results. More to follow in H1 2019.

IPO need to be making up this money in other investments. Still holding above 70p. H1 results due in next 2-3 weeks?

Wonder what they now value Oxford Nanopore at? That had some news a few days ago.

Good luck all. Let's hope these results are not too bad.

[nimbo1] 25/6/2019 20:59

hxxps://news.sky.com/story/crisis-hit-woodford-hires-bankers-to-sell-private-company-stakes-11748898

This could have a large impact here - positive IMO if sold at the last raise price, clearly negative if sold for less.

[porsche1945] 10/6/2019 11:14

I wonder whether the contagion is about to hit Barnet/Invesco next, full of the same sort of cxxp and poorly performing, seen as Woodford' useless stooge, SJP and Omni tried to cut the link fast but maybe not fast enough, alot of these about to get
" found out ". SJP a total ripoff anyway, poor idiots that use them.

I do think the huge holdings Woodford has in some of these companies has distorted liquidity and supressed some values, once hes out and hopefully gone for good some of this stuff could actually bounce with some decent liquid ownership.

[bamboo2] 08/6/2019 11:02

Invesco Asset Management Ltd.
AS OF 24 MAY 2019
280.75m 26.51%
Woodford Investment Management Ltd.
AS OF 22 MAR 2019
211.72m 19.99%
Lansdowne Partners (UK) LLP
AS OF 22 MAR 2019
115.02m 10.86%
Baillie Gifford & Co.
AS OF 22 MAR 2019
42.68m 4.03%
M&G Investment Management Ltd.
AS OF 02 MAY 2019
21.13m 2.00%
OppenheimerFunds, Inc.
AS OF 02 MAY 2019
20.79m 1.96%
Invesco Advisers, Inc.
AS OF 24 MAY 2019
20.76m 1.96%
Legal & General Investment Management Ltd.
AS OF 02 MAY 2019
19.63m 1.85%
Ellington Management Group LLC
AS OF 02 MAY 2019
17.86m 1.69%
Telstra Super Pty Ltd.
AS OF 02 MAY 2019
16.89m 1.59%

[bamboo2] 08/6/2019 10:42

Woody and Invesco are pop full of IPO Group and have sizeable additional holdings in IPO's constituents.

Surely Invesco won't be able to avoid the likely downdraft? What if Invesco start to experience a rise in redemptions?

Are there any other significant holders of IPO that could be affected as well?

[guildedge] 07/6/2019 17:38

Looks like the 5% was a transfer of share back to St. James's Place plc group of companies who now run their own investments.

2nd RNS of day.

[bamboo2] 07/6/2019 17:02

Unfilled gap from 30/9/2011
Measures 45.2-45.4

Could possibly be described as a breakaway gap, and therefore a support zone, as the prior day, 28/9/2011, featured the half yr report.

45-50 also has strong historical support.

I guess the ultimate low depends on how much of Woody is already in the price

[guildedge] 07/6/2019 16:47

RNS seems good news. From 19 % to 14%. Woodford cleared over 25% of his holding here. He may topslice many of his holdings or close out completely. Clearly found a buyer.

So maybe 75p could be closer to the bottom here. See what happens.

[guildedge] 06/6/2019 17:02

The problem is Woodford and Invesco own nearly 50% of this share. With Woodford owning about 20% or 211m shares?

Woodford has also invested in many of the firms IP Group are invested in. This is a double whammy.

Woodford freely admits that he made mistakes on way he valued/invested firms. Another one of his funds which held 3.5bn the investor has just pulled their funds. (See article in FT.) It would seem his credibility is fast going down the pan here.

SP closed at 75.1p UT. He will be looking for a fund to buy him out here. Could Invesco take this over? Not sure how much money they have.

I suspect any deal done will have to be below 75p. Maybe 60p? Just how realistic is IP Group valuations of it's investments here? They will hold some value.

The minute he unfreezes his fund you can bet many others will try to pull out their funds too. No truly large volume buy or sells here yet. No RNS from IP group either. See what happens.

So do you hold here or sell in case this crashes by 10-15% more?

[porsche1945] 06/6/2019 13:10

The valuations on all Woodford' unlisted cxxp getting found out, I always thought they looked stupidly high, .20p in the pound probably about right. Him having to reduce his suicidal huge weightings in the listed stuff will help the shares down the line when we get passed this period as he has distorted and reduced liquidity, he has been abso toxic for every company he has gone near especially where he has got involved like Stobart, sooner hes out and closed down the better. Kerrisdale called it on this complete sham. Just a pigs trough for fees for the platforms. FCA as usual turn up so late all they can do is count the dead bodies.

[nimbo1] 06/6/2019 12:46

clearly not - as originally suspected the woodford bonfire is just starting...

[nimbo1] 04/6/2019 13:57

possibly now NW fund suspended market thinks NW selling done for now?

[p1nkfish] 04/6/2019 11:20

bb2, if not already screened it's worth taking a look at NAS. Decent discount, buyback and expect increased NAV again at end Jan 2020 results.

Interesting comments in last sets of results on opps thrown up by MiiFid2 and disparity between public and private market valuations.

Disclosure - have held NAS for a while. CEO has £125M approx of his own worth in the trust. Christopher Mills. Quality small cap value stock picker.

[p1nkfish] 04/6/2019 10:50

Might have turned here?

[p1nkfish] 04/6/2019 10:49

bb2, I totally agree but there is an element of poor management in this too that is less evident (or non-existant) in Grow.

I'm weighing up position currently.

Response to good GROW results is telling.

Portfolio spread across Grow and IPO together is very useful.

Both will turn but not sure this is close enough to bottom yet.

Risk and future growth not places to be today.

[bamboo2] 04/6/2019 09:26

Hi nimbo and pink, I take on what you both say and agree that performance to date has been poor.

My tiny trade was based on the chart only, and I have now sold a just below b/e until the dust settles.

I still think that the share price discount on the nav makes the stock look interesting, as do a number of the constituents stories.

[p1nkfish] 04/6/2019 07:40

Grow shows how it should be done. Not apples-apples but a firm eye on NAV. GROW have identified more nimble investments and little/no biotechnology risk.

Patience is one thing but IPO management are stretching it more than a bit.

Does anyone see any exits on the horizon for IPO?

[nimbo1] 03/6/2019 20:42

Hi Bamboo - I disagree - there will be no buyers for woodfords IP group price any where near this price - they have never had a truly successful exit...so why should it be worth much at all?

This holding is no.7 in his equity 'INCOME' fund...I am 99% sure it will have to be sold.

IMO only of course.

[bamboo2] 30/5/2019 08:26

Hi nimbo, That could have been a problem while share price was at a premium to nav, but now share price reflects a discount, that is less of an issue. Not sure of precise figures.

[nimbo1] 29/5/2019 19:16

The main problem here is woodfords large holding...and what if anything needs to happen to it

[p1nkfish] 29/5/2019 16:46

Thank bb2.