Frontier Ip Share Discussion Threads

[acuere] 03/10/2021 09:32

A piece from Simon Thompson in the IC last March. Good insight into some of the portfolio and looking at Exscientia it shows what a lowball figure some of the valuations are.

[acuere] 02/10/2021 13:00

Absolutely slicethepie. Investors really should look at Frontiers website and the presentations to see the progress the portfolio of companies are making. The percentage holdings (17% - 43%) are also a lot more significant than the 2.4% in Exscientia. Whilst they may not reach Exscientia IPO value, it’s easy to see a few of these coming to market with £100m+ valuations.
The only other thing I should of said is we don’t know if Fipp sold any shares yesterday. I would assume they would cash in some if not all the holding.

[metis20] 02/10/2021 10:20

Thanks acuere - just spotted the piece on FIPP via your link in the STOCK WATCH column.

[slicethepie] 02/10/2021 10:08

You know our press don't like success! They would rather report on something negative. This is a major achievement for Neil and the team, backing an idea from day 1 to this is incredible and needs massive promotion. If you look at their portfolio I don't think this is a one off, I won't list my favourites but it is not a short list !!!

[acuere] 02/10/2021 10:02

Daily Mail seems to be the only paper to have picked up on the value to Fipp of the Exscientia float. At closing share price the stake worth about £30m

[acuere] 01/10/2021 16:57

Solid start for Exscientia. Up ~30% to 28.5-29. At that price Frontiers stake is worth roughly £33m. This is a massive increase in the fair value of the portfolio. Previously £23m it’s going to be about £50m now.

[acuere] 01/10/2021 10:18

So there is predictably plenty of demand for Exscientia with it being priced at the top end of the range valuing Fipp stake at $34.4m.
Talk when listing announced was of them raising $100m, that is now over $300m and in addition a couple of private placements at same price to raise a further $160m.

“Exscientia are expected to begin trading on the Nasdaq Global Select Market on 01 October 2021.”

I see Nanopore jumped 40% on there first day of trading yesterday. We could potentially see similar here today with Exscientia

[acuere] 01/10/2021 05:00

Exscientia IPO being priced at the top end of $22. Looks like there is strong demand.

[b3rt1e] 28/9/2021 14:49

Exscientia assuming IPO goes ahead and it looks priced to go at such a large discount to their peers group, will remove the funding fear that hangs over many non-(cash)profitable AIM companies as well as giving them a massive paper profit for valuation purposes.

[acuere] 28/9/2021 13:40

Exscientia is only one of over 20 investments Fipp hold. It’s interesting to see how they are valued in the accounts.

In the FY to June 20 results released in Nov, the fair value of the portfolio was £19.4m of which Exscientia was valued at £4.4m.
In H1 2021 results released in March, portfolio fair value was up to £23.4m. If that was solely down to Exscientia, that still only valued it at £8.4m.
Now we see in reality at nearly £25m it is worth 3 times that.

Which should lead you to ask in reality how much are some of the other investments actually worth. In the last FY accounts Pulsiv was £3.5m and The Vaccine Group was £3m.

I’m guessing that Quiltor who increased their stake in Fipp last week have already worked out the undervaluation here.

[acuere] 28/9/2021 11:49

So from yesterday’s late in the day RNS about proposed Exscientia IPO we have this:

“The Amended Registration Statement states that the initial public offering price per ADS is estimated to be between $20.00 and $22.00. Following a proposed 300:1 share split Frontier IP would be entitled to 1,564,800 ADSs.”

That values FIPP stake at $31m - $34m.

Fwiw Exscintia valued at $1.5bn

[acuere] 14/9/2021 14:00

Back in May 2019 when there was talk of Exscientia going for a Nasdaq IPO.This was the sort of valuation talk at the time

“ According to analyst Ian Jermin of Allenby Capital, which acts as a broker for Exscientia shareholder Frontier IP, the company could be worth as much as £1 billion in a float.”

Exscientia has made strong progress since then so it will be interesting to see what value they are given if this IPO proceeds.

At £1b then Frontiers 2.4% of Exscientia would be worth £24m, which is a sizeable chunk of the current mkt cap of £53m.

[b3rt1e] 13/9/2021 10:43

Portfolio news - Registration statement filed for proposed initial public offering of Exscientia in the United States

Frontier IP, a specialist in commercialising intellectual property, notes a registration statement on Form F-1 (the "Registration Statement") has been filed for portfolio company Exscientia Limited with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed initial public offering of Exscientia (the "IPO") in the United States of its Share Securities ("Share Securities").

The Registration Statement relating to the Share Securities has been filed with the SEC but has not yet become effective. The Registration Statement can be accessed at the following link: hxxps://www.sec.gov/Archives/edgar/data/1865408/000110465921114491/tm2119783-5_f1.htm

At this stage there can be no certainty on the IPO proceeding nor the terms or timing of the IPO.

Further announcements will be made by Frontier IP at the appropriate time.

[slicethepie] 13/9/2021 08:52

Looks like this will be their first liquidity event, well done! Plenty more to come!

[tizo100] 08/9/2021 13:49

Nice announcement onwards and upwards

[best1467] 12/8/2021 16:34

Yes first invested a number of years ago the had £500 a month for a number of years drip feeding in a share builder.
The board as been strengthened considerably in a number of the holdings and I’m extremely confident the valuation is approaching take off .
Pulsiv is the most exciting company with enormous potential the near 20% stake alone could be worth multiples of the current Mcap and I don’t think I’m over playing things with that comment whatsoever.

[aqc888] 11/8/2021 20:40

Very happy with my holding in Frontier IP. A lot of exciting opportunities and a CEO who’s quiet confidence has my trust. A few holdings are on very very modest valuations. This will continue with strong growth, probably continue to have a very volatile share price along the way.

[cordwainer] 19/7/2021 13:51

I reduced at 103p and I would consider below 80p as top-up territory, which would price FIPP at a premium to NAV comparable to Draper Esprit (GROW) of approx 25 to 30%.
NAV/ps for H1 was 56.8p and I guess positive progress since then should see NAV/ps of approx 60p now.
With both stocks being focused on deployment of disruptive technology and potential unicorns they apparently warrant premium valuations and reasonably patient investors.

[petewy] 08/7/2021 09:54

Frontier IP, announces that its portfolio company, CamGraPhIC Limited ("CamGraphIC" or the "Company") has put a loan facility for funding of up to £1.5 million so CamGraphIC can accelerate the development of its growth.

[swiss paul] 08/6/2021 20:07

Paul De Gruchy -
Scrip Issue allotment of ordinary shares
Volume 10,451

Following the above transaction, Paul De Gruchy, the Non-Executive Director of the Company has a beneficial holding of 600,770 Ordinary Shares in the Company which represents 0.068% of the total voting rights of the Company.

[cordwainer] 07/6/2021 08:19

@best1467 agreed as per my previous post ...

cordwainer 9 Feb '21 - 17:47 - 146 of 183
0 0 0
Made a modest top-up. There's enough reasons to hope that portfolio valuations will get some uplift this year. The Vaccine Group and PulsiV Solar are probably the strongest contenders for further revaluations during 2021. Naturally all the other constituents sound promising too, but based on my reading I feel that AquaInSilico and NTPE could be the less obvious progressive news for 2021.

[best1467] 01/6/2021 08:14

Pulsiv stake alone 20% will be worth multiples of 110 in the next 2/5 years the potential is the most exciting I've seen for sometime

[cordwainer] 28/5/2021 14:59

..i guess he must be using the rise from ~60p to ~85p as the start of some pattern (edited).

[b3rt1e] 28/5/2021 14:20

Zac Mir podcast on Vox has predicted from the FIPP chart that the share price is heading to 110p by end June

[petewy] 28/5/2021 10:56

IC Simon Thompson tips today : Frontier’s largest portfolio company, Exscientia, a clinical stage pharma technology company pioneering the use of artificial intelligence (AI) to design new drugs, has just raised US$225m (£162m) in a Series D funding round led by Softbank’s Vision fund. etc