Chrysalis Investments Share Discussion Threads

[rimau1] 11/5/2024 07:12

Daily Telegraph write up on Thursday could explain the recent strength here. Nothing mentioned that we don't already know but a neat summary for new investors. The combination of a restructured management team and performance fee plus an activist investor and the gbp100m near term Klarna liquidity confirms the worst is over. After originally tipping CHrY at 2.43 after floating it is still a buy as it reaches an inflextion point.

[kooba] 08/5/2024 07:50

SoftBank Is Said in Talks to Buy Troubled AI Chip Firm GraphcoreOngoing discussions with SoftBank have become more advancedBritish semiconductor startup was once valued at $2.8 billion

[arthur_lame_stocks] 02/5/2024 10:01

I bought a few more of these the other day and after today's update I'm comfortable with my holding. The stated book value of the main investments is around £700m and I assume that the closer they get to IPO the more realistic the book value gets. A couple of the investments look like they have the potential to be really quite big businesses.

There's enough potential upside here to have persuaded me to still hold.

[speedsgh] 02/5/2024 09:57

Liberum view

We believe the current share price does not capture the potential uplifts to NAV from likely uplifts to key holdings and the catalyst a Klarna IPO would provide to kickstart distributions. Klarna continues to be valued conservatively. A c.$15bn valuation would increase NAV per share by 3.5% and were CHRY's stake to be realised, $15bn would translate to gross cash proceeds of c.22p. The tables below show CHRY's stakes for key investments, the valuation implied by those stakes, and illustrative scenarios based on a potential Klarna IPO. We rate CHRY as Buy, with a 123p TP.

[rimau1] 02/5/2024 07:23

Lots of useful nuggets in the update today. The likely disposal is still likely over the coming months. A Klarna IPO would provide gbp100m of liquidity or 20percent of marketcap. Finally they are very interestingly considering debt finance to provide the liquidity to trigger the CAP which is a smart move IMO. The rationale being that the discount to nav and debt funded buyback is accretive especially if supported by a Klarna IPO

[jasperthemonkeygod] 02/5/2024 07:13

The Company announces that as at 31 March 2024 the unaudited net asset value ("NAV") per ordinary share was 147.46 pence.

?

[rimau1] 29/4/2024 19:25

Yes, see post #288 Starling is all about the tech.

[speedsgh] 29/4/2024 18:34

Interesting...

Starling Bank's SaaS business can be bigger than the bank, says its boss -

[greenhat2] 25/4/2024 15:41

Big volume and big trades here today. Some big PI trades as well... Let's hope this is the bounce before the NAV update

[speedsgh] 24/4/2024 15:10

Klarna scores major payment deal with Uber ahead of hotly anticipated IPO -

[barnes4] 24/4/2024 14:17

Soothing words need to come from this outfit sharpish

[speedsgh] 23/4/2024 09:23

Related news...

Ben Whitmore and Chrysalis exits lead to £1.9bn outflows from Jupiter -

[onjohn] 22/4/2024 20:20

Chry should be concentrating on investments not this, you lost money on Revb, took a smack now move on

[bielsainvestor] 22/4/2024 12:57

Tipped in Friday's FT:

Fintech finally starts to add up for investors

"...One repercussion is that we may see more fintechs list on stock markets over the next year. UK-listed venture capital fund Chrysalis — one of my favourite investments at the moment — has a stake of about 1.1 per cent in Klarna, on a net asset value of $11bn, whereas the rumoured IPO price is closer to $20bn. Another key holding for the investment trust is insuretech business WeFox, which is showing signs of rapid growth...."

[speedsgh] 22/4/2024 07:13

Update on claim against Revolution Beauty Group PLC -

Further to comments made in the Company's FY23 Financial Report and Audited Financial Statements, the Company has not been satisfied with the limited responses received from Revolution Beauty and its legal advisers to date, and accordingly the Company issued draft Particulars of Claim to Revolution Beauty on 19 April 2024. The draft Particulars of Claim note a claim of £39m, together with a claim for consequential losses of a further £6.2m. The Company considers that it has a strong case and is willing to pursue it.

[speedsgh] 17/4/2024 15:50

Apologies. The article is marked as published at 09.52 this morning. AJ Bell covering themselves in glory again. They're doing well at the moment what with the 'fair value restrictions' furore as well!?

[rimau1] 17/4/2024 14:38

Must be an old article speedsgh as Starling have already hired a new CEO. A Romanian bank also went live using Starlings tech last week too which is going to be a huge growth engine

[speedsgh] 17/4/2024 13:54

Starling Bank has been talked about as an IPO candidate for years, so could 2024 finally be the year its IPO happens?

The bank made £194.6 million pre-tax profit in the year to March 2023 and a 29% return on tangible equity. Growth has come from increased lending and a higher base rate – the latter is an area to watch if the Bank of England starts to cut rates as that could have a negative impact on Starling’s earnings.

Costs have gone up at a slower pace than revenue and overall fixed costs are lower than a traditional bank because Starling is not weighed down by clunky legacy technology systems that have been an anchor for many of its bigger rivals.

The key hurdle to clear is finding a new chief executive as founder Anne Boden last year surprised everyone by stepping down after a row with investors.

[joey52] 12/4/2024 07:44

Article on AJ Bell not allowing certain trusts to be bought.

hxxps://citywire.com/investment-trust-insider/news/aj-bell-blunders-deepen-row-over-fair-value-restrictions-on-trusts/a2440235?re=119168&;refea=6181

[stemis] 10/4/2024 17:13

According to the AJ Bell website - "If you don’t pass the assessment, you won’t necessarily be barred from investing. AJ Bell Youinvest will send you a secure message advising you that it doesn’t believe the complex instruments are suitable. You can reply with a declaration stating that you would like to proceed and the deal will go ahead..."

[donald pond] 10/4/2024 11:11

I am starting the debate (again) https://www.linkedin.com/posts/paul-de-gruchy-4565a42a_investmenttrusts-activity-7183764696934588416-iO9t?utm_source=share&utm_medium=member_ios

[riverman77] 09/4/2024 17:39

It's more the principle here - someone blocking me from investing on the basis that it's deemed too risky in some way! And also pretty inconvenient dealing on the phone, as I was kept waiting a good 10 minutes (not the usual dealing service which is fairly quick, but had to be put through to a separate dealing team to unblock it). More seriously, I suspect this decision could be a factor in the recent share price weakness.

[rimau1] 09/4/2024 16:52

First world problems riverman! Phone dealing and security at AJ Bell i find very efficient, 2-3mins at most, clearly an inconvenience but a mild one surely...they also still just charge you the online rate even though its over the phone.

[riverman77] 09/4/2024 16:48

Yes really bad. After speaking to them it appears to have been driven by the FCA, supposedly to protect retail investors. If you want to deal you need to call them up each time and ask them to temporarily remove block, but this generally involves a 10 minute wait and getting through all the security questions each time.

[noiseboy] 09/4/2024 15:05

Hmm they have done that to me with #PNIX as well !