[ADVERT]
Share Name Share Symbol Market Type Share ISIN Share Description
Chrysalis Investments Limited LSE:CHRY London Ordinary Share GG00BGJYPP46 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  -3.00 -1.28% 232.00 1,113,596 16:35:12
Bid Price Offer Price High Price Low Price Open Price
231.00 233.00 238.00 231.00 238.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments -3.69 -1.10 1,270
Last Trade Time Trade Type Trade Size Trade Price Currency
17:09:35 O 3,466 232.012 GBX

Chrysalis Investments (CHRY) Latest News

More Chrysalis Investments News
Chrysalis Investments Investors    Chrysalis Investments Takeover Rumours

Chrysalis Investments (CHRY) Discussions and Chat

Chrysalis Investments Forums and Chat

Date Time Title Posts
01/12/202109:16Chrysalis Investments44

Add a New Thread

Chrysalis Investments (CHRY) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
17:09:36232.013,4668,041.54O
17:06:35232.0030,51470,792.48O
16:35:12232.00104,274241,915.68UT
16:29:48231.001,8404,250.40AT
16:29:48231.001,1942,758.14AT
View all Chrysalis Investments trades in real-time

Chrysalis Investments (CHRY) Top Chat Posts

DateSubject
03/12/2021
08:20
Chrysalis Investments Daily Update: Chrysalis Investments Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker CHRY. The last closing price for Chrysalis Investments was 235p.
Chrysalis Investments Limited has a 4 week average price of 230p and a 12 week average price of 219p.
The 1 year high share price is 279p while the 1 year low share price is currently 150p.
There are currently 547,273,076 shares in issue and the average daily traded volume is 945,715 shares. The market capitalisation of Chrysalis Investments Limited is £1,269,673,536.32.
01/12/2021
08:44
speedsgh: Proposed Placing - HTTPS://www.investegate.co.uk/chrysalis-invs-ltd--chry-/rns/proposed-placing/202112010700091182U/ The Company today announces its intention to raise new capital under the Company's placing programme, as detailed in the Company's Prospectus dated 10 March 2021, through a placing (the ("Placing") of Ordinary Shares at a price of 238 pence (the "Issue Price"). The Issue Price represents a 1.7 per cent. premium to the pro forma Net Asset Value per Ordinary Share of the Company as at 30 November 2021 of 234 pence (the "NAV")*. In conjunction with the Placing, there will be an offer made by the Company on the PrimaryBid platform of additional Ordinary Shares at the Issue Price (the "Retail Offer") to provide retail investors with an opportunity to participate in the equity fundraising alongside institutional investors. A separate announcement will be made shortly regarding the Retail Offer and its terms. For the avoidance of doubt, the Retail Offer is not part of the Placing. Background and rationale for the Placing Since raising £300 million in March 2021, the late-stage private market has exhibited strong growth and Chrysalis has continued to experience significant interest in its crossover proposition. At the time of the fundraise, the Investment Adviser outlined a strong pipeline of new investment and follow-on opportunities and set an expectation of adding one to three new units per annum. Over the summer, origination into the Investment Adviser's new investment pipeline was considerably stronger than predicted, such that it has added five new investments to the portfolio since March 2021, significantly outperforming its earlier expectations. While certain follow-ons were undertaken (e.g. Starling, wefox and THG), given the quality of the new investment cases, the Investment Adviser chose to prioritise this channel over the period. Use of proceeds The expected use of new funds is primarily to drive the performance of existing assets in current portfolio companies via certain follow-on investments. In addition, the current effective number of investments is at the bottom end of the Investment Adviser's target range of 15 to 20, offering the opportunity to selectively add new holdings... Expected Timetable for the Placing Placing opens: 1 December 2021 Latest time and date for commitments under the Placing: 1.00 p.m. on 10 December 2021 Trade date: 13 December 2021 Admission: 8.00 a.m. on 15 December 2021 Crediting of CREST stock accounts in respect of the Ordinary Shares: 15 December 2021
29/11/2021
08:29
speedsgh: Update on Performance Fee Arrangements - HTTPS://www.investegate.co.uk/chrysalis-invs-ltd--chry-/rns/update-on-performance-fee-arrangements/202111290701078009T/ The Company announces that it has, today, entered into an agreement with its investment manager, Jupiter Unit Trust Managers Limited ("Jupiter") to settle 54 per cent. of the performance fee amount that will be payable to the investment manager in respect of the period to 30 September 2021 in ordinary shares issued by the Company. The remaining 46 per cent. of the performance fee amount will be settled in cash. The issue price of those shares is expected to be 267p per share (being the closing share price on 30 September 2021) which is a 9.4 per cent. premium to the share price as at close of business on 26 November 2021 and a 6 per cent. premium to the unaudited net asset value per share as at 30 September 2021. To the extent that the audited 30 September 2021 net asset value per share is greater than 267 pence per share, the issue price will be increased to an amount equal to the audited 30 September 2021 net asset value per share. The shares are expected to be issued on the date of publication of the Company's audited financial statements for the year ended 30 September 2021, which is anticipated to be in January 2022. They will be issued on a non-preemptive basis utilising the Company's existing authority to issue shares. The shares issued to Jupiter are intended to be used by Jupiter as part of the deferred remuneration arrangements of its staff, including the Company's portfolio managers, and will be subject to Jupiter's usual vesting conditions which incrementally release shares to the qualifying staff over a three year period. The Company's chair, Andrew Haining, commented: "The Board is pleased to have accepted this proposal and material commitment by Jupiter on behalf of the fund managers and other staff members, which further increases their alignment with shareholders in pursuing long-term success for Chrysalis."
13/10/2021
14:06
speedsgh: Chrysalis and Jupiter losses mount as THG crashes after chief attacks short sellers - HTTPS://citywire.co.uk/investment-trust-insider/news/chrysalis-and-jupiter-losses-mount-as-thg-crashes-after-chief-attacks-short-sellers/a1568247 THG (THG) shares have shed well over a third of their value in less than 24 hours after a presentation to reassure investors about the e-commerce group’s prospects backfired spectacularly, dealing a blow to Chrysalis Investments (CHRY) and other Jupiter funds with big stakes. Chief executive and co-founder Matt Moulding hit out at short sellers at a capital market’s day yesterday, widely seen as a mission to justify the worth of the group’s Ingenuity technology unit and address negative perceptions after the shares had slid throughout this year. Instead, the shares plunged as the afternoon event proved a bust, eventually closing down 35% on Tuesday. Falls continued as markets opened today, with the stock down a further 3.1% to 276p at 11am amid volatile trading. ‘The City has totally lost confidence in this company and its founder,’ said Markets.com analyst Neil Wilson. Formerly known as The Hut Group, the owner of Myprotein and a diverse suite of beauty and other brands was an investor darling when it floated a year ago, but challenges have mounted this year amid a wider slowdown in the e-commerce sector with supply chain and other issues biting. Pressure grew after a recent ‘short’ note written by The Analyst, a subscription-based research house run by former Fidelity analyst Mark Hiley, which was an early critic of fraudulent German payments company Wirecard. Emerging over the weekend, the report recommended investors bet against the stock, particularly criticising the inflated prospects of Ingenuity, a white-label platform helping other retailers run their operations which had been crucial in attracting Japanese group SoftBank’s investment earlier this year. ‘I think there was a lot of anticipation given the recent short note but the capital markets day could not fully address investors’ concerns. The lack of visibility is becoming an issue,’ said Shore Capital analyst Eleonora Dani. Having floated at 500p in September 2020, the shares now stand at barely a third of an 800p peak at the beginning of this year. THG’s tumble also dragged down Chrysalis, which fell 2.6%, or 6p, to 225p today, building on similar losses the day before. That comes after considerable air had already come out of the shares of the private and early-stage company investment vehicle in recent weeks, putting them down more than 15% over a month, though investors at launch three years ago have still comfortably doubled their money after a string of other successes. THG made up 7.7% of Chrysalis’s portfolio at the end of June, having taken profits around the turn of the year. Open-ended funds also run by Jupiter’s small and mid-caps team, of which Chrysalis managers Richard Watts (pictured) and Nick Williamson are part, have also been hit as THG and fast-fashion online retailer Boohoo (BOO) have pulled back sharply. Watts’ £3.3bn Jupiter UK Mid Cap fund, which had 6.2% in THG at the end of August, has lost 5% over three months, about 6% behind the wider UK market and placing in the bottom quarter of its sector peers. The timing of funds pricing means the latest falls are not included. Jupiter as a group is the sixth-biggest holder of THG, owning around 6.3% of the shares, according to Refinitiv data for the end of March. The stock is also a significant 3% position in Daniel Nickols’ £1.4bn UK Smaller Companies fund. Other UK-based funds with significant weightings in the stock include the BMO UK High Income (BHI) investment trust, whose shares were little changed, and the firm’s Select European Equity fund. Both run by Philip Webster, they had 4.4% and 2.4% positions respectively at the end of August according to Morningstar data. Chrysalis’s corporate broker Numis calculated that, following recent weakness, yesterday’s tumble in THG shares would have taken a further 1.9% out of the portfolio’s net asset value (NAV). Allowing for movements in all quoted holdings, including Wise (WISE), and performance fees, analyst Andrew Rees estimated the NAV stood at 226.9p per share, a 2% premium to last night closing price of 231p. Rees said struggles at a high-profile unquoted holding – which also became its first stock – were ‘clearly disappointing’. ‘Given Chrysalis’s focus on high-growth businesses, we never expected it to always be plain sailing,’ he said, pointing out that small-companies lender Growth Street had already been wound down. ‘We would expect the situation with THG to rumble on for some time, and may add volatility to the NAV, albeit we estimate THG is now just a 3.6% position.’ THG, which has a trading update due on 26 October, told the market this morning there was ‘no notifiable reason’ for the scale of its share price fall. Jupiter declined to comment.
24/8/2021
13:17
speedsgh: All go at Chrysalis after two new buys and 14% NAV jump - HTTPS://citywire.co.uk/investment-trust-insider/news/all-go-at-chrysalis-after-two-new-buys-and-14-nav-jump/a1543759 ... Given the rate at which the managers have been deploying spare cash, another raise may not be far off and may form part of the 12-month expansion drive Chrysalis shareholders have backed. Liberum analyst Conor Finn pointed out that NAV per share had risen by 115% over the 15 months since March 2020, driven by liquidity events but also substantial growth by its holdings, with average revenue growth of 70% across the portfolio. The shares are currently trading at 261.4p, a nearly 12% premium to the latest NAV, which Finn said compared to an average 30% premium for growth capital peers like Schiehallion (MNTN). ‘We see the current share price as an attractive entry point for a high-growth portfolio’ he said.
18/8/2021
07:16
blondviking: From Times this morning Klarna is the buy now, profit hugely later bet at Chrysalis Investments in private companies that go on to float have produced eye-catching results Patrick Hosking, Financial Editor Wednesday August 18 2021, 12.01am, The Times Klarna, which lets retailers offer credit, could become more valuable than HSBC, according to Chrysalis, which also backed the hotels website Secret Escapes INTERNET Share Klarna could be valued at $125 billion within 18 months, putting the “buy now, pay later” credit provider on a par with HSBC, Britain’s biggest financial institution, according to one of its most passionate backers. Richard Watts, the technology investor and co-manager of Chrysalis Investments, made the eye-catching estimate yesterday as he unveiled the latest in a string of investments in unlisted private companies with gargantuan, disruptive ambitions. Watts and Nick Williamson, his co-manager, have caught the attention of listed company investors after Chrysalis, a member of the FTSE 250, twice hit the jackpot in recent months from backing private companies that went on to float on meaty valuations. IN YOUR INBOX Business briefing In-depth analysis and comment on the latest financial and economic news from our award-winning Business teams. Sign up now The Hut Group, the direct-to-consumer retailer valued at £7 billion after floating in London in January, was one successful early pick. Wise, formerly TransferWise, the international transfers business, floated last month and now valued at £9.8 billion, was another. Chrysalis was also an early investor in Embark, the retail investment platform that was snapped up last month by Lloyds Banking Group for £390 million. Another large and appreciating investment is a £107 million stake in Starling Bank, which aims to float in the next two years. However, Klarna is by far the duo’s biggest bet, accounting for around a quarter of the Chrysalis investment portfolio after mushrooming in value. Watts, a 44-year-old Welshman who has been investing in emerging businesses for more than 20 years, believes that it could get bigger still. “Payment technology is super-hot at the moment,” he said. He pointed to the $29 billion purchase of Afterpay, a rival buy now, pay later provider based in Australia, by Square, an American financial technology platform, two weeks ago. That had been priced on an extraordinary multiple of 22 times prospective sales, he said. Extrapolate Klarna’s soaring revenues a year into the future and apply the kind of stratospheric multiple of the Afterpay deal and it is not hard to come to his $125 billion price tag. The lossmaking Klarna was valued at $45.6 billion in its latest capital-raising in June. Watts bought into it in an earlier capital-raising in August 2019, when the Swedish-based unicorn was valued at a mere $5.5 billion, so he has already made a ninefold return on some of his investment — on paper, at least. A flotation, possibly in London next year or in 2023, is the aim of Sebastian Siemiatkowski, its founder. SPONSORED Klarna and the buy now, pay later model have taken the retail world by storm, with online retailers such as Asos and Boohoo using it to offer free short-term credit. In effect, Klarna buys the receivables for 94p to 98p in the pound and is responsible for collecting the debt from the shopper. Klarna was used by 87 million shoppers worldwide last year, 15 million of them in the UK. Not everyone buys into the growth story. Regulators including the Financial Conduct Authority are starting to police this new form of credit. Debt charities say it is dragging vulnerable people deeper into debt. Competition is intensifying. And, like all highly valued companies with long-term time horizons, Klarna is vulnerable to a change in market sentiment, or even a modest rise in interest rate expectations. Chrysalis has already benefited, though. It reported £249.9 million of net investment gains in the six months to June and a 28.1 per cent increase in net assets per share. It took advantage of its appeal to investors by raising £300 million of fresh capital in the first half, boosting its market value to more than £1.4 billion. The unusual philosophy of “crossover investment” — buying stakes in unlisted companies and continuing to hold them after flotation — has appealed increasingly to traditional investors who feel that they are missing out on the jam generated in the pre-float years. Chrysalis investors have made a 162 per cent return in less than three years. Watts says the capital-raising years are largely over for Chysalis. Profits from maturer realised investments will be recycled into new investments in younger companies. The latest of these, unveiled yesterday, is InfoSum, a New York group whose proprietary technology helps its clients in the delicate art of sharing customer data without breaching rules on privacy or security. Chrysalis has injected $65 million into the business for an undisclosed stake. Watts concedes that some investors in fast-growing private companies are going to get burnt, but he is confident that Chrysalis has enough winners to offset the duds. “We pass on a lot of deals,” he said. “We’re disciplined.”
17/8/2021
11:18
speedsgh: Portfolio Update - HTTPS://www.investegate.co.uk/chrysalis-invs-ltd--chry-/rns/portfolio-update/202108171129038814I/ The Company is pleased to announce an investment of $65 million in the US based parent company of InfoSum, as part of its Series B scale-up round. Previous investors in InfoSum include IA Ventures and UpFront Ventures, among others. InfoSum is a data infrastructure business that has built a way for organisations to share data with each other such that it does not put customer data or personally identifiable information at risk. InfoSum works with global enterprises that utilise InfoSum's technology to connect customer records without sharing data, helping to alleviate security concerns and is compliant with all current privacy law, including GDPR. The investment by Chrysalis will enable InfoSum to continue to invest in engineering resources, grow its sales and marketing capabilities, and expand its international presence, as the company addresses the significant market opportunity in front of it. The Company's cash and liquidity positions remain robust, bolstered by a partial realisation of the position in Wise, given Wise's strong share price performance since its IPO in July. This recycling of capital means the Company's Investment Adviser has full visibility over the sources of funds to meet its near-term requirements, which include another new investment progressing through the latter stages of due diligence. Richard Watts and Nick Williamson (co-portfolio managers) comment: "InfoSum is a company at the forefront of society's changing digital needs, addressing data collaboration in a trusted and privacy first-way, with an impressive track record of revenue growth. The company sits within a significant addressable market, and we look forward to offering our shareholders access to this exciting opportunity. InfoSum has developed proprietary technology that ensures brands can enrich their data with other parties without it leaving their environment. This offering has driven one of the fastest scale-up revenue streams we have come across in the software space, and significant engagement from major customers. Given the nature of the product, InfoSum demonstrates "network effect" potential, which we believe will be fundamental to driving future revenue growth. We are delighted to be partnering with InfoSum and look forward to working with Brian Lesser (Chairman and CEO), Nick Halstead (Founder and CTO), and the rest of the InfoSum team to deliver on the possibilities of the technology."...
07/7/2021
17:04
blondviking: Great news with the WISE IPO today Portfolio Update Following Wise plc's ("Wise") direct listing today on the London Stock Exchange, the Investment Advisor believes it is important to give the Company's shareholders further clarity over the carrying value of the Company's holding in Wise. The Company's carrying value of Wise, based on the number of shares at admission, equates to a Wise share price of approximately 511 pence. Per the announcement released by the Company on 6(th) July 2021, Wise accounted for approximately 8% of the Net Asset Value of Chrysalis. Wise has followed a direct listing route to IPO, which involves no new capital being raised. In order to make sufficient liquidity available to enable the process to proceed, along with other principal shareholders, Chrysalis agreed to sell a small part of its pre-IPO position at the auction clearing price. The rest of the Company's position is unencumbered by any selling restrictions. Richard Watts and Nick Williamson (co-portfolio managers) comment: "Our engagement with Wise dates back to 2017 - when it was just breaking into profitability - and Wise formed part of Chrysalis's initial portfolio at IPO. As such, we have observed the significant growth in both revenues and profits delivered by Wise for our investors. This has resulted in a rising valuation for Wise and we wish Kristo, Taavet and the team much success in the listed environment as they continue their mission of increasing access to significantly cheaper foreign exchange channels."
30/6/2021
06:28
speedsgh: Interim Results to 31 March 2021 - HTTPS://www.investegate.co.uk/chrysalis-invs-ltd--chry-/rns/interim-results-to-31-march-2021/202106300700065622D/ Financial summary NAV per share: 31/3/21 206.15p (30/9/20 160.97p) +28.1% Share price: 31/3/21 195.5p (30/9/20 145p) +34.8% Total net assets: 31/3/21 £1.128 billion (30/9/20 £542 million) +108.1% Highlights - NAV per share of 206.15p, representing 28.1% growth over the first half of the financial year, driven by £249.9m of net investment gains. - Continued strong performance from the key portfolio companies, driving over 70% blended revenue growth year-on-year. - This performance has led to several significant funding rounds in the portfolio, particularly Klarna and Starling Bank, which have driven NAV performance. - Post period end, follow-ons made in wefox (€30m) and Starling Bank (£35m), as well as a new investment in Smart Pension (£75m). In addition, a cornerstone agreement was signed between the Investment Adviser and Revolution Beauty that would allow Chrysalis to invest approximately £45m as part of Revolution Beauty's upcoming IPO. - Current cash position of approximately £150m and strong total liquidity of over £270m, both adjusting for the investment in Smart Pension but prior to the possible Revolution Beauty investment. - The Company has another potential new investment proceeding through latter stages of due diligence, with further assets in earlier stages. - Chrysalis is exceptionally well-placed to capitalise on the significant opportunities that it is increasingly seeing in the late-stage private market, as the proposition is bolstered by its growing scale and reputation for empowering entrepreneurs with crossover capital. Andrew Haining, Chair, commented: "Chrysalis has achieved another period of strong growth and in March completed a further successful fund raise, once again demonstrating the attractiveness of its investment proposition to investors, based on its proven ability to identify and deliver on exciting late-stage disruptive opportunities. Shareholders have more than doubled their money since Chrysalis launched in November 2018 and, with the value of its existing portfolio being substantially underpinned by recent portfolio company funding rounds and a strong pipeline of new investments identified, we believe the company is well placed to continue to generate material growth." Nick Williamson and Richard Watts, co-portfolio managers, commented: "The portfolio has continued to perform strongly, with several companies seeing exceptional growth. In certain cases, this has led to funding rounds at significant uplifts to our prevailing carrying values, including post period end. We believe the trends underpinning many of these performances are well entrenched. More widely, we believe Chrysalis is only scratching the surface of the opportunity available in the late-stage private market. Our original hypothesis of a "blurring of the lines" between private and public markets appears to be playing out and our crossover proposition, backed by significant scale, is resonating strongly with entrepreneurs. This has allowed us to access some fabulous companies. Our early-mover advantage is substantial, but we are continually looking for ways to develop the Chrysalis offering. Our origination network is generating a significant cadence of leads, and the current pipeline of new investments is very exciting, with a further potential investment in the final stages of DD and others in earlier stages. With substantial cash and liquidity available, we are well on track to continue our drive to diversify the portfolio, selectively targeting exceptional investment opportunities".
29/6/2021
06:34
captain stock: Chrysalis Investments Limited Portfolio UpdateSource: UK Regulatory (RNS & others)TIDMCHRYRNS Number : 3998DChrysalis Investments Limited29 June 2021The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area, Canada, Australia, Japan or the Republic of South Africa.29 June 2021Chrysalis Investments Limited ("Chrysalis" or the "Company")Portfolio UpdateThe Company is pleased to announce its Investment Adviser, Jupiter Investment Management Limited has entered into a cornerstone investment agreement with Revolution Beauty Group plc ("Revolution Beauty") as part of its expected IPO, and that the Company anticipates investing approximately GBP45 million as part of this process. Further details are available in Revolution Beauty's Intention to Float announcement that has been released today.Chrysalis met Revolution Beauty as part of a "pilot fishing" (a pre-IPO exploratory meeting) exercise at the request of the latter's CEO, Adam Minto, due to the Company's ability to invest both privately and publicly. Having analysed the investment case for Revolution Beauty and undertaken channel checks on the brand, the Investment Adviser believes it has a significant runway for growth.Chrysalis has the ability to invest up to 20% of gross assets in companies it has not held prior to IPO, calculated at the point of investment. While the Company's primary goal is to secure access to exciting companies prior to their IPOs and capture their subsequent growth in private markets, one of its other aims is to position itself favourably at point of IPO to secure a good allocation. Given the work undertaken by the Investment Adviser in assessing this potential transaction, it believes it will be a very attractive investment for shareholders.The main focus of Chrysalis will remain sourcing private, late-stage investments - typically two to five years out from IPO - but the Investment Adviser will continue to be flexible in its approach to leveraging its proposition to maximise value generation for shareholders.Nick Williamson and Richard Watts (co-portfolio managers) comment:"Over the last seven years, Adam and Tom have built an amazing company, able to bring exciting products that customers want to market significantly faster than its competition. With a small market share in a huge market and a compelling customer proposition, we believe Revolution Beauty is well placed to grow aggressively in the years ahead."Adam Minto (CEO of Revolution Beauty) comments:"Chrysalis has developed a compelling proposition for entrepreneurs with late-stage businesses, providing long-term capital regardless of whether they stay private or choose to go public. We are looking forward to a successful IPO and will be proud to welcome Chrysalis onto our shareholder list, as part of the wider cornerstone agreement with Jupiter".About Revolution BeautyRevolution Beauty was founded by Adam Minto (CEO) and Tom Allsworth (Executive Chairman) in 2014, since when it has experienced a revenue CAGR of 99% to December 2019, with the year to December 2020 showing minimal growth due to COVID-19.Revolution Beauty operates a "digital first" strategy, but has multiple channels to market for its various brands, which cover a number of different beauty categories. The company differentiates itself with its speed to market: it looks to identify beauty trends quickly and bring them to the mass-market within 16 weeks, making it significantly more agile and responsive than its global competitors, which typically take 6 to 12 months. It identifies trends via consumers, influencers and retailers, particularly via social media platforms, such as Instagram and TikTok. It then utilises its highly efficient and scalable supply chain to bring products to market rapidly, digesting customer responses, before fine-tuning. Revolution Beauty is committed to sustainability, by ensuring products ranges are 100% cruelty free, mostly vegan, and sustainable and recyclable packaging are used wherever possible.Revolution Beauty's core offering is in colour cosmetics, but it expanded into skincare in 2018 and has relaunched its haircare range in 2021. In total, this offers an addressable market of approximately $197 billion in 2021, growing at a CAGR of 6% to 2025 (Source: Euromonitor).Over the fourteen months to 28 February 2021, Revolution Beauty generated revenues of GBP157.6 million and adjusted EBITDA of GBP13.1 million.-ENDS-
10/5/2021
17:59
speedsgh: Chrysalis eyes big gain as Lloyds looks to buy Embark - HTTPS://citywire.co.uk/investment-trust-insider/news/chrysalis-eyes-big-gain-as-lloyds-looks-to-buy-embark/a1505795 Lloyds (LLOY) bank is reportedly in talks to buy retirement savings and platform company Embark Group in a £400m deal that could net another big gain for Chrysalis Investments (CHRY) run by Jupiter fund managers Richard Watts and Nick Williamson. The £1bn growth capital fund, which backs companies preparing for a stock market flotation, has invested a total of £27m in Embark, equivalent to 6% of its assets at the end of last year. Although it has never disclosed the size of its stake in Embark, analysts at Chrysalis’ joint broker Liberum said reports of its first investment nearly two years ago indicated a 19.9% position. The company raised more money at the end of 2019, £12.2m of it from Chrysalis, to fund the acquisition of Zurich’s investment platform. Liberum analyst Conor Finn said if Chrysalis’ exposure to Embark had remained the same, a £400m price tag would lift the £69m value of its stake by 15% and add about 1.5p to net asset value per share. Numis, the fund’s other corporate broker, estimates Chrysalis’ underlying NAV per share has risen from 180.8p to 203p this year as a result of the hikes in valuations of its stakes in fintech companies Klarna and Starling bank. This leaves the shares, up 1.5p to 203.5p, on a small premium to NAV but just below the 305p level at which it issued £300m of new shares at the end of March. Finn said this was an ‘attractive entry point for a high-growth portfolio’ that has doubled since its launch two years ago, had funds to invest in a pipeline of investment opportunities and which had several companies in its portfolio preparing to float...
Chrysalis Investments share price data is direct from the London Stock Exchange
ADVFN Advertorial
Your Recent History
LSE
CHRY
Chrysalis ..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20211203 17:37:09