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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Chrysalis Investments Limited | CHRY | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.20 | 0.24% | 82.00 | 15:59:34 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 81.70 | 81.10 | 82.50 | 82.00 | 81.80 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 22/4/2024 21:20 by onjohn Chry should be concentrating on investments not this, you lost money on Revb, took a smack now move on |
Posted at 09/4/2024 15:38 by riverman77 Just tried to add a few of these on AJ Bell and informed it is restricted from dealing. I presume this is something to do with the idiotic risk warning they sent a couple of weeks ago saying CHRY may not offer value for money. I also wonder if this is the reason for the recent weakness - if investors can't buy it then that's surely going to weigh on the share price. Really annoying that brokers are interfering in this way. |
Posted at 04/4/2024 08:12 by speedsgh Citywire had to update the above article later in the day yesterday following a call from AVI pointing out that they had increased their shareholding in CHRY to 8.4% in March...Asset Value Investors hails Chrysalis ‘inflection point’ with 8.4% stake - |
Posted at 03/4/2024 09:32 by bielsainvestor Asset Value Investors hails Chrysalis ’inflection point’ with 5.7% stakeActivist manager of AVI Global scoops up £27m position in Chrysalis Investments, making it the recovering growth capital fund’s largest shareholder. Investment company activist Asset Value Investors has scooped up a £27m stake in Chrysalis Investments (CHRY), making it the largest shareholder of the growth capital fund that looks to build on a strong recovery in the past year and put the trauma of its 2022 crash behind it. Stock exchange filings show AVI bought a 5.7% stake in Chrysalis on 27 February, two-and-a-half weeks before the investment company passed a continuation vote with the support of 97% of voting shareholders. Most of the stake is held in AVI Global (AGT), the £1bn investment trust managed by AVI chief executive Joe Bauernfreund, which specialises in buying out-of-favour closed-end funds and holding companies. The filings indicate just over 2% of AGT’s assets are in the late-stage private equity fund run by ex-Jupiter fund managers Richard Watts and Nick Williamson. This puts AVI in the driving seat to ensure Chrysalis continues to prioritise shareholder returns and narrows its wide discount. The shares have staged an impressive recovery in the last 12 months, rallying 60% on hopes of interest rate cuts and the flotation of holdings such as credit provider Klarna that could fund a £100m share buyback programme. However, they are still less than a third of their peak in September 2021 and trail 45% below net asset value (NAV). ‘With a maturing portfolio and potentially more supportive IPO markets ahead in 2024 and 2025, we believe Chrysalis is at a key inflection point with scope for material NAV upside from what is now significantly more conservative carrying values for its key assets,’ AGT’s head of research Tom Treanor said. ‘While the new capital allocation policy ensures that the next £100m of exit proceeds will be deployed into share buybacks that will be highly accretive given the very wide prevailing discount to NAV, we look forward to continuing our constructive dialogue with the board – as the company’s largest shareholder – on what a longer-term capital allocation policy might look like.’ AVI’s purchase comes not long after managers Watts and Williamson spun off the the £887m portfolio from Jupiter, which they manage at their new firm, Chrysalis Investment Partners. This is the second time in the past year that AVI has emerged with a big holding before a continuation vote. In September it hiked its position in Hipgnosis Songs Fund (SONG) to 3.1% a month before two key shareholder meetings. It successfully led investor opposition to a controversial asset sale that saw the company lose the continuation vote, prompting a strategic review under a new board. |
Posted at 08/3/2024 15:22 by rimau1 Well the IC think we own 11% of Klarna! You couldn't make it up. "With markets showing some life again, Klarna has become the subject of initial public offering (IPO) speculation, its chief executive saying a 2024 listing was "not impossible". The company is reportedly in talks over whether to use a dual-class share structure, so a listing is more than just on the cards. The valuation is expected to be around $20bn (£16bn). That could prove important for shareholders in one investment trust that has proved turbulent in recent history: Chrysalis Investments (CHRY), which backs later-stage private companies, had an 11 per cent position in the company at the start of this year. The fund has sunk in the face of higher rates, with shareholders taking a paper loss of 60 per cent in the past three years. The shares recently traded on a discount of more than 40 per cent to portfolio net asset value (NAV) |
Posted at 29/2/2024 09:40 by donald pond OK, thinking about this, the way it makes some sort of sense...CHRY owns around 1% of Klarna Klarna floats for $18bn CHRY stake is worth $180m There are 595m shares in issue That works out at 30c/share Quite different to "The managers envisage that Klarna could be worth about $18bn based on Klarna trading on the same gross profit multiple as closest-listed peer, Affirm. CHRY has a 1% stake. On those figures, a Klarna sale could add about 30p to the NAV." If that is the case, it is pretty poor that the Company allowed it to go out like that. And thanks Tom and Rimeau for highlighting |
Posted at 29/2/2024 09:33 by donald pond I've put a call in.The figures as you say don't make sense. I just wonder whether the bit that isn't right is CHRY having a 1% stake. I've not seen that elsewhere. The QD paper also says the following about Starling: "CHRY’s managers sees substantial upside to Starling’s current £1.16bn valuation We discussed Starling’s 2023 financial year (FY23) results in our last note, however, there is reason to believe that the company’s carrying valuation for Starling is conservative. The managers recently noted that the company is currently generating a pre-tax ROE of 40%. We believe that this implies c£300m of profit before tax. A £3bn valuation seems reasonable, which would add over £270m to the value of CHRY’s stake, or about 48p per share. Alternatively, the managers note that Monzo, which is a similar size to Starling, is rumoured to be worth about £4bn, which would suggest an even bigger uplift is achievable." Again, i don't know if the maths is correct, but the note is written by James Carthew, who is a pretty respected guy in the City. I think we just need one exit and the rerate will be substantial. |
Posted at 12/2/2024 22:16 by riverman77 It's all about sentiment - CHRY used to trade on a big premium when everyone was bullish about pre IPO companies. Maybe that day will come along again, but probably not for CHRY as I feel once you've lost your reputation it's difficult to recover, and let's face it CHRY has had a few serious issues along the way which investors unlikely to forget - so an organised wind-up best option for shareholders. |
Posted at 30/1/2024 18:51 by tole https://masterinvest |
Posted at 12/1/2024 14:07 by davebowler Analysts: Shonil Chande and Alex O’HanlonCHRY: Mkt Cap £399m | Share price 67.1p | Prem/(disc) -50.2% | Div yield n/a Event Each quarter Liberum’s sector teams list their most preferred stocks on a 6- to 12-month time horizon. Chrysalis Investments and Octopus Renewables Infrastructure were selected by the Alternative Funds team. Chrysalis Investments –Core portfolio nears summit climb CHRY’s investment case is underpinned by the potential for accretive stake sales/exits within the core portfolio, with Klarna and Starling Bank amongst the companies considered close to or IPO-ready. There is potential for further augmentation of returns via capital distributions. We have a BUY recommendation with a TP of 118p. Our NAV forecasts do not assume portfolio realisation events. The key upside risk to our view comes from exits achieved at valuations above NAV. |
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