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ICGT Icg Enterprise Trust Plc

1,372.00
-2.00 (-0.15%)
Share Name Share Symbol Market Type Share ISIN Share Description
Icg Enterprise Trust Plc LSE:ICGT London Ordinary Share GB0003292009 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -2.00 -0.15% 1,372.00 447,564 16:35:29
Bid Price Offer Price High Price Low Price Open Price
1,376.00 1,386.00 1,388.00 1,372.00 1,380.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 135.27M 107.51M 1.6974 8.11 870.27M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:47:03 O 230 1,190.00 GBX

Icg Enterprise (ICGT) Latest News (2)

Icg Enterprise News

Date Time Source Headline
20/6/202507:00UKREGTransaction in Own Shares
17/6/202507:00UKREGTransaction in Own Shares
16/6/202507:00UKREGTransaction in Own Shares
13/6/202507:00UKREGTransaction in Own Shares
12/6/202507:00UKREGTransaction in Own Shares
11/6/202507:00UKREGNotification of Share Transaction
10/6/202507:00UKREGTransaction in Own Shares
09/6/202507:00UKREGTransaction in Own Shares
06/6/202507:00UKREGTransaction in Own Shares
05/6/202507:00UK RNSICG Enterprise Trust PLC Transaction in Own Shares

Icg Enterprise (ICGT) Discussions and Chat

Icg Enterprise Forums and Chat

Date Time Title Posts
11/6/202515:53ICG Enterprise (was Graphite) Trust 400

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Icg Enterprise (ICGT) Most Recent Trades

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Trade Time Trade Price Trade Size Trade Value Trade Type

Icg Enterprise (ICGT) Top Chat Posts

Top Posts
Posted at 22/6/2025 09:20 by Icg Enterprise Daily Update
Icg Enterprise Trust Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker ICGT. The last closing price for Icg Enterprise was 1,374p.
Icg Enterprise currently has 63,338,148 shares in issue. The market capitalisation of Icg Enterprise is £871,532,916.
Icg Enterprise has a price to earnings ratio (PE ratio) of 8.11.
This morning ICGT shares opened at 1,380p
Posted at 25/4/2025 15:58 by triskelion
From a quick search I can't find what ICGT paid for Minimax in 2018 and I haven't spent time tracing through the RNSs to try and figure out if NAV (preferably that allocated to it) has dropped over time. The RNS stating "The sale was executed in line with the last reported NAV and proceeds have been received." seemed a bit circumspect to me.
Also the share price hasn't yet recovered from the Tariffs kerfuffle either unlike eg DORE (I know, not a true comparison except for being another that has dropped significantly in recent times - but unlike ICGT, with some significant correction today).
Posted at 06/4/2025 15:26 by elbrus55
Sorry, By MBO, I should have just said 'buyout'. It is what they mainly do - buy companies outright or at least where they can take a controlling interest.RCF is just a form of debt, similar an overdraft. It is a term used by ICGT in their accounts and RNSs - oops... I mean Regulatory News Statements.
Posted at 04/4/2025 07:56 by elbrus55
If they don't sell some old investments and make some new ones then the portfolio will become very mature and it is no longer an enterprise / MBO investment strategy which is what ICGT is about.Realising investments at 5pc discount, when you can repurchase your own shares at about 37pc discount gives a good opportunity for risk-free NAV accretion. Probably fortunate timing given the market falls this week. They are paying swaps+300bp on the RCF, so should benefit by at least that much until the proceeds are reinvested.
Posted at 03/4/2025 09:29 by pyglet
Price now about 1250. A year ago 1250 is it really proving a brilliant investment
Posted at 02/4/2025 13:04 by pvb
nexusltd 2 Apr '25 - 12:05 - 389 of 390

That as secondary sale was best is not a good result. Secondary's are generally sold @ a discount to NAV; usually to prove to the market that stated valuations are realistic. The MOIC of 1.6 is well short of 2.5 which is a test of quality benchmark threshold. 64mn wrt 1200mn GAV is c 5%; so at least a twentieth of the portfolio is underperforming. Thoughts?

2.5x is all very well, but what's the effective IRR? From the RNS:

"It realises a return of 1.6x invested cost (15% IRR) to ICGT, and releases undrawn commitments of £10m."

That sounds perfectly satisfactory to me.
Posted at 02/4/2025 10:34 by 1968jon
If you raise £62m at a 5.5% discount to NAV and buy stock at a 37% discount to NAV, that is a decent trade. When they said in the RNS this morning it will be deployed "into opportunities......and capital allocation policy", I presume this is what they meant. Or they can invest the £62m in something which gets marked down to £40mish.
I want to own this thing for ten years plus and compound at 10%+ but until - if ever - the PE trusts discounts narrow substantially, I am happy for them to buy every share they can.
Posted at 29/5/2024 10:08 by 1968jon
Maybe, and I've observed a few algos and a few buybacks in my time, but I'd question the parameters on this one. At 9.42 this morning 9,855 shares had traded. Of that number 7 trades totalling 3,066 shares had traded on the RSP and 25 trades had been an automatic trade lifting the offer, (including when the spread was 22p wide!!!) for a total of 6,789 shares. A buyback instruction with seemingly no price limit and 69% participation would be unusual. They are only small volumes, so not really moving the price, but interesting to a screen nerd like me.
Posted at 10/5/2024 14:15 by riverman77
ICGT is realising assets at an average 29% premium. The 15% discount you mention relates to a secondary sale of some assets where they saw less upside - hopefully a one-off clear out and the majority of the portfolio can be sold at a premium. PE funds are generally quite conservative on valuations since they are not typically incentivised to mark up asset values before they are sold.

Unlike PIN and some of the others, there has been no press coverage at all of ICGT's plans - feel they need to up their game on the PR front.
Posted at 08/5/2024 10:17 by riverman77
New 'opportunistic' buyback announced alongside the existing long term buyback and dividends. Detail is somewhat buried in the report - you'd think they'd want to publicise this a bit more. New buyback is up to £25m, which appears to be in addition to the existing buyback (last year £13m) and the 33p dividend. If you add all this up it could equate to a 7.5% shareholder return at current share price.

Nav returns slightly soft over last year but seems to be a combination of fx, 50% fall in Chewy share price (now only 1.4% of portfolio) and the sale of some older underperforming assets at 15% discount. Underlying portfolio seems to be performing well with 14% EBITDA growth.

Overall think looks pretty good value on a 38% discount, having lagged some its peers recently. They're realising assets at a 29% premium to book value, so on that basis looks very cheap.
Posted at 02/3/2024 20:56 by apple53
Sky- you are even worse than me. I WOULD take 3% on HVPE (and have taken less when I needed the cash), but on ICGT with STAMP!
I also sold APEO early, average 513p. Most of it went into OCI at 443 average, and a bit into CORD (along with some PIN proceeds) which I flipped already to buy (more) ONT at 135. I am sure I will regret the latter. PEIT can be volatile but ultimately you feel so much surer of medium term value than in 'growth' stocks like ONT.

Thanks for the buyback discussion Acol and Cousin. I take the points - ie 1) they did as much volume in one day as in the 27 transactions mentioned in the Q3 report for end October; and 2) yes they took the 22p hit to NAV to raise valuable cash upfront, and 3) given price performance since, they may indeed have cleared the overhang. The sacrificial sale ultimately meant that in local currency, they were down more than 1% in Q3 restated, saved by 3% currency benefit from a 5.5% fall in cable. It did mean we have an example of a PE firm selling BELOW carrying value. Hmmm.

July to October saw a 10% fall in world MSCI, so serious headwinds, even for conservative accountants. My real time estimate of ICGT's NAV is 2075, with the biggest factor being 45% of world MSCI's increase, partially offset by sterling strength. End Jan MSCI was almost 5% lower than now (though up 16% since October), so I guess I'm thinking around 2020 for end Jan. On the one hand I hate to think how much of World MSCI is driven by META and NVDA, and therefore that accountants will be cautious marking up PE portfolios. On the other hand I'm not building in much for real organic growth, which they normally achieve in spades. I own some ICGT but not enough. If HVPE went up £2 I would switch some. If it's still languishing round here, it has to be worth owning it for Q4 results.

If anyone has done any work on their actual holdings and their likely correlation (or lack thereof) with S&P, NASDAQ etc........
Icg Enterprise share price data is direct from the London Stock Exchange

Icg Enterprise Frequently Asked Questions (FAQ)

What is the current Icg Enterprise share price?
The current share price of Icg Enterprise is 1,372.00p
How many Icg Enterprise shares are in issue?
Icg Enterprise has 63,338,148 shares in issue
What is the market cap of Icg Enterprise?
The market capitalisation of Icg Enterprise is GBP 870.27M
What is the 1 year trading range for Icg Enterprise share price?
Icg Enterprise has traded in the range of 1,064.00p to 1,418.00p during the past year
What is the PE ratio of Icg Enterprise?
The price to earnings ratio of Icg Enterprise is 8.11
What is the cash to sales ratio of Icg Enterprise?
The cash to sales ratio of Icg Enterprise is 6.44
What is the reporting currency for Icg Enterprise?
Icg Enterprise reports financial results in GBP
What is the latest annual turnover for Icg Enterprise?
The latest annual turnover of Icg Enterprise is GBP 135.27M
What is the latest annual profit for Icg Enterprise?
The latest annual profit of Icg Enterprise is GBP 107.51M
What is the registered address of Icg Enterprise?
The registered address for Icg Enterprise is PROCESSION HOUSE, 55 LUDGATE HILL, LONDON, EC4M 7JW
What is the Icg Enterprise website address?
The website address for Icg Enterprise is www.icg-enterprise.co.uk
Which industry sector does Icg Enterprise operate in?
Icg Enterprise operates in the INVESTMENT TRUSTS DIV'D sector

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