As a rough guess, it looks to me as though management are currently pursuing a buyback at approx 1% of the company a month. |
Date of purchase: 17/01/2025
Number of ordinary shares purchased: 470,000
Volume weighted average price paid per ordinary share (GBp): 52.5913
08:22:09-16:34:13
Spread widened at 16:29:59 |
The IPO's share price curve follows closely the ONT share price in the last 5 years (I do not know how to add an image here), except during periods of intense buyback. Therefore, can we say that every successful sale did not affect the share price directly (as NAV increment), but indirectly, just as cash for buyback? |
Date of purchase: 16/01/2025
Number of ordinary shares purchased: 470,000
Volume weighted average price paid per ordinary share (GBp): 53.2589
09:26:07- 16:20:19 |
Date of purchase: 15/01/2025
Number of ordinary shares purchased: 151,757
Volume weighted average price paid per ordinary share (GBp): 51.8191
08:26:25-14:52:51 |
14/1/2025 TR-1 [edit, it was a Form 8.3] concerning Tissue Regenix [TRX]
Sold 2,071,017 shares [I think to Lexham] for cash income of £1,209,059.73
IP Group now hold 2,390,403 or 3.35% TRX |
Date of purchase: 14/01/2025
Number of ordinary shares purchased: 460,000
Volume weighted average price paid per ordinary share (GBp): 51.7553
08:17:45-16:19:42 |
Date of purchase: 13/01/2025
Number of ordinary shares purchased: 441,277
Volume weighted average price paid per ordinary share (GBp): 50.5606
08:23:10- 16:17:52 |
Value of ONT holding up around £25m this morning.
[Eod finished up about £10m] |
Jonesy, search Istesso or Leramistat in the 'search this thread' box in the header.
The Drug-Drug Interaction (DDI) Study of Leramistat appears to be ongoing. |
Does anyone have an insight on Istesso timings for clinical trial update. Seems to be dragging on and on. Is this usual. I read that it can take a long time but we are getting close to a year |
Market reacting positively to ONT update. |
Given the discount the buyback is a very sensible allocation of capital. Low risk (they have enough of that) and a boost to future EPS.
ONT TU reads well. |
Buybacks aren't in place to "fight the shorter". |
Bamboo, thank you for the detailed explanation
I am buying the dip and making some profit, but after all these successful news, I was hoping to do much more.
I am not a great fan of buyback, I do see it was important to fight the shorter, but I was wondering if cash could be more useful for investing and expanding the portfolio with different tech and biotech companies.
Or if nothing can be done, dividends would be good for me |
Antrox the discount to NAV has been much discussed.
Privately held illiquid companies have attracted a discount for some time and it is this discount and lack of liquidity that caused the failure of the Woodford funds. Since these folded, the sector has struggled to shake off the negativity surrounding pre-profit tech and bio-tech.
The shorter is attempting to benefit from these fears by gaming the price where the only significant buyer appears to be IPGroup management. At the current MCAP, Itesso failure, along with many others in the portfolio is probably in the price. |
bamboo, the share price has been above 50% discount to NAV over the last years.
Do you think it is due to the shorter, the MM or the lack of info (possible no positive outcome yet) about Istesso trials? |
Date of purchase: 10/01/2025
Number of ordinary shares purchased: 440,000
Volume weighted average price paid per ordinary share (GBp): 50.1122
08:31:00-16:15:38 |
Date of purchase: 09/01/2025
Number of ordinary shares purchased: 440,000
Volume weighted average price paid per ordinary share (GBp): 50.3455
08:33:53-16:22:03 |
At £0.50 a share it's approx 5.13% of the company. [50m shares]
The shorter needs to buy an additional 4,969,895 shares. [.51%]
Autumn 2024 saw an average of approx 2m shares bought back every week. Assuming a similar level of stock is available on the market to maintain this level of buying, the buyback could be completed in as little as six months. |
Buy back update, as expected. That's potentially a lot of stock. |
Thanks bamboo! |
 Frazboy, from RNS 19/12/2024
Afaik, within the terms of the buyback [max of 20% of prior 20 days volume], Management are currently able to purchase up to around 10m shares per day.
==================================
IP Group plc - £119m of initial cash proceeds following completion of sale of portfolio company Featurespace to Visa
- Further £25m to be applied to share buyback programme
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, is pleased to confirm that it will receive £119m of initial cash proceeds following the completion of the sale of portfolio company Featurespace Ltd to Visa.
The Group was the first institutional investor in Featurespace in 2012 and has invested a total of £22.9m over seven financing rounds. This transaction, which follows the sale of Garrison this year, further validates IP Group's model and our expertise in identifying and supporting science and technology businesses to successful exits.
IP Group anticipates ending the year having generated £179m of cash proceeds from exits following a strong performance on realisations, more than four times the £38.6m received in 2023.
The Group is now allocating £25m of the £119m proceeds from the Featurespace sale to the current share buyback programme. Together with the up to £15m anticipated to be received from the secondary sale announced on 09 December, this will increase the buyback programme to a total of up to £70m. Since this programme was announced in December 2023, the Group has bought back 65m shares, approximately 6% of the opening shares in issue, for a total of £28.9m. |
Yep interest rate sensitive stock getting panned. Or could be Itesso finally.. |
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