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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Iqgeo Group Plc | IQG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 478.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 478.00 | 478.00 |
| Industry Sector |
|---|
| SOFTWARE & COMPUTER SERVICES |
| Top Posts |
|---|
Posted at 16/7/2024 07:35 by p1nkfish IQGEO is relatively insignificant in the greater scheme but is a microcosm of the way things are going. For all the talk of fibre, the Grid is the target market. They may not be in this KKR fund but the thinking applies.Bloomberg: "The stock market’s fixation on quarterly earnings and short-term performance makes it a suboptimal funding venue for companies critical to the energy transition. That’s according to Emmanuel Lagarrigue, a partner and co-head of climate at KKR & Co., who says such companies would do better with more patient investors. “Public markets are probably the cheapest cost of capital,” Lagarrigue, who was a senior executive at Schneider Electric SE before joining KKR in 2022, said in an interview. “But at the same time, they have volatility and very short memories, so it’s very difficult to have a long-term, thoughtful strategy for very large and consequential corporate transformations.R Money managers overseeing private equity and debt portfolios are now emerging as a powerful force in climate finance. It’s a timely development, as capital-intensive green tech companies struggle to attract sufficient investment and high-carbon large caps face diminished interest from shareholders for ambitious decarbonization plans. An energy crisis, as well as higher inflation and interest rates, have complicated the energy transition. And add to that a protracted stock market selloff: Since the beginning of last year, the S&P Global Clean Energy Index is down 28%, compared with the 45% increase in the S&P 500 Index. In private markets, however, it’s a very different picture. Between 2016 and 2023, private fund allocations to renewables have consistently outperformed those in oil and gas, according to a recent MSCI Inc. analysis. “There’s that transition moment for companies that public markets are not equipped or designed to undertake,” Lagarrigue said. There’s a mismatched time horizon between the demands of public market investors and the requisite period for decarbonization. And some corporate leaders are now coming to the conclusion that shareholders focused on short-term returns “are not going to support them anymore,” said Lagarrigue. “It’s very difficult for the CEO of a company to go to their shareholders and say I’m going to invest 3 billion in a new asset that’s going to radically change our carbon footprint and create new growth, but the cash flows are coming in five or seven years,” said Lagarrigue. “That doesn’t work.” There’s evidence to suggest that other private money managers are seeing an opportunity to step in. An analysis provided by Preqin found that of the $156 billion raised by private credit funds last year, about 16% went into products claiming to target environmental or social goals. That’s a bigger share than for any year since at least 2014, with data for this year through June indicating the trend is set to continue, according to Preqin. While private investors typically shield company bosses from the shorter time horizons of public markets, they’ve also been called out for their relative lack of transparency. BlackRock Inc. Chief Executive Officer Larry Fink warned in 2021 of the need to shine more light on private markets and their role in climate finance, or risk “the largest capital-market arbitrage in our lifetimes.” Back then, the concern was more that private markets were quietly absorbing the high-carbon assets being sold by public markets. More recently, however, BlackRock has taken significant steps to increase its footprint in private markets. The world’s largest money manager just announced it’s acquiring Preqin, one of the most frequently tapped providers of private-market data. That’s as private markets emerge as the fastest-growing corner of money management, with alternative assets expected to reach almost $40 trillion by the end of the decade, according to BlackRock. Other industry leaders, including Blackstone Inc. and TPG Inc., have identified the energy transition as a key investment opportunity. Last year, Blackstone raised $7.1 billion for a fund to finance solar companies, electric car-part makers and technology to cut carbon emissions. Lagarrigue is the co-head of KKR’s debut climate fund, which, though still fundraising, has made a handful of initial investments, including in UK power storage company Zenobe Energy Ltd. Part of the fund’s mission is to address a gaping hole in climate funding: the so-called “missing middle,” or the chasm between venture capital and infrastructure funds where many companies developing critical green technologies fall. Such companies typically have proven business models and some existing cash flow, but require significant capital injections in order to grow. “Early-stage capital and growth equity is all pretty well covered, so we have nothing to add to that conversation,” Lagarrigue said. “And classical renewables — wind and solar — are also well covered by infrastructure.̶ With some of the core components of the low-carbon transition, such as batteries and green steel, “you can argue that the technology risk is behind them,” he said. Those are the investments KKR is looking for. Other more experimental areas such as direct air capture, small modular reactors or alternative proteins “still need to be de-risked, validated and consolidated,” he said. These technologies “will come to maturity at some point in the next few years,” at which point KKR could be interested in investing, Lagarrigue said." |
Posted at 23/5/2024 15:18 by p1nkfish Please watch below.An example, it's reckoned 75% of the US grid is over 1/2 over it's life expectancy and will need replacing in the next 15 years or so. Not only does the Grid need replacing it needs massive upgrades at the same time - or in any case - to allow fro more DER, EV, Data. The scale is mind-boggling. Then - this is another example of just one Grid operator spending £60Bn in 5 years. Just National Grid alone. All this needs data collection at the edge, in the hands of the workforce in the field. IQGEO was well placed before selling-out. Now that economic benefit is taken out of the hands of UK investors and transferred to PE in the US. IQGEO didn't even attempt to stand and grow in the UK market. Were sweetners thrown in to get it past the BoD? Anyone have any idea or thoughts on the matter? The news drought was very strange and lack of any Grid news - coincidence? They didn't even sell-out at the Cavendish target - it was below - after the stellar write-up. |
Posted at 19/5/2024 15:42 by red ninja Investor's Champion podcast covers sad loss of IQGEO on aim plus it's probable much greater value a few years out. |
Posted at 19/5/2024 06:58 by simon gordon Katie Potts has taken KKR's dosh. Earlier in the year she was bemoaning the lack of scale in the UK and that she was retreating from the UK.Herald Investment Trust - Feb' '24 There is no doubt that the UK public market is in a more fragile state than during any previous downturn in living memory. The question is whether this is cyclical or whether the damage is more structural. The UK public market is currently a fairly difficult environment for entrepreneurs to raise capital and I am saddened by how much management teams have been diluted by fund raisings at distressed levels. I believe that value in our portfolio will be realised through takeovers but that the costs incurred by listed companies in the UK, with the recent added burden of ESG and auditing requirements, has become too high to attract new companies. Similarly, the costs for managing small investments have increased considerably, with additional ESG and regulatory costs. Unfortunately, active investment management does not scale, and it is conspicuous that larger players have withdrawn and funds have shrunk. There are now too few players in the UK to have an efficient market, and too few co-investors. It is a pity because public markets have provided long- term risk capital for the benefit of the wider economy, but the skillset is disappearing rapidly. It seems the UK will inevitably shrink as a percentage of the Company’s assets. |
Posted at 19/5/2024 06:51 by simon gordon Sunday Times - 18/5/24:City giant Threadneedle clashes with KKR over tech company buyout Columbia Threadneedle became aware of private equity firm’s swoop on Cambridge-based tech company only days before board backed takeover Kohlberg Kravis Roberts earned its “barbarians at the gates” moniker for an aggressive pursuit of the American conglomerate RJR Nabisco in 1988. Thirty-six years later the Wall Street private equity firm continues to live up to its reputation after a row erupted at one of the City’s best known asset managers over a Cambridge-based tech company. Columbia Threadneedle has accused KKR of “ram raiding” the London stock market after it pulled off a £316 million swoop for AIM-quoted IQGeo. Threadneedle, which is IQGeo’s second-biggest shareholder with a 13 per cent stake, is opposing KKR’s takeover bid. IQGeo has developed software that allows utilitiy companies to track their networks using satellite imagery. It enables broadband companies to create a digital map of their cabling infrastructure, for instance. Previously, the majority of the records were in paper form. “Although the financial metrics of KKR’s offer are very high, we do not believe it fully realises the long-term growth potential of IQGeo,” said James Thorne, UK equities fund manager at Columbia Threadneedle. Threadneedle is aggrieved because it became aware of a months-long sales process, overseen by the Takeover Panel, only days before the IQGeo board announced the recommended takeover by KKR. The company’s largest shareholder, Kestrel Partners, which owns 27 per cent of the company, was aware of the auction by virtue of having representation on the IQGeo board. Kestrel did, however, recuse itself from the sales process. KKR is taking the unusual approach of financing the entire takeover itself, rather than bringing in lenders to provide bridging loans to fund the deal. Private equity firms typically seek bridging loans to fund public to private takeovers. Lenders prefer to provide the loans on the basis that the private equity firm will execute the acquisition through what is known as a scheme of arrangement. A scheme of arrangement requires 75 per cent approval from the target company’s shareholders, but allows the deal to be completed quickly so that the bridging loans are refinanced and then secured against the target company’s assets. If the private equity firm cannot get 75 per cent approval, then it may switch the mechanics of the transaction to a takeover, which requires a simple majority. But completing the deal typically takes several months longer, leaving the lenders with outstanding bridging loans that are not secured against company assets. As a result, financing a takeover as opposed to a scheme of arrangement is more expensive in terms of fees and interest costs. It is the second time in short order that KKR has employed such a strategy. The firm prevailed in a £1.3 billion deal for Smart Metering Systems, another London-listed company, earlier this year despite opposition from its Glaswegian founders. KKR’s decision to fund the deal in full negates such risks as it means financing is in place for either eventuality. It also means that the threat of opposition from dissenting shareholders, which could block the sale through a scheme of arrangement if representing more than 25 per cent, is mitigated unless more than 50 per cent of investors oppose the deal. In the case of IQGeo, it means Threadneedle is powerless to stand in the way of KKR’s takeover of the business. Four of the company’s five largest shareholders — Kestrel, Charles Stanley, Herald Investment Management and Canaccord — are backing the takeover. Threadneedle first invested in IQGeo in 2010, when it floated. Last week Jeremy Hunt, the chancellor, insisted that the UK can create a $1 trillion home-grown tech giant to rival Microsoft or Google. Reflecting on the chancellor’s remarks, Thorne said: “We’ve been early-stage investors in UK tech for over 10 years, providing clients exposure to leading companies and producing strong long-term returns. IQGeo is a great example of the kind of company we look to invest in. He continued: “KKR has seen the same potential in the company we did. IQGeo is now well-funded, generating significant revenue and profit growth with the potential to become many multiples of its current size.” A spokesman for IQGeo said: “The board believes that the 480p a share offer from KKR, which crystalises a 11 times return over the last five years, represents highly attractive value for shareholders. “In addition, KKR will provide support, expertise and significant investment to enable the company to move onto its next phase of development. The board is pleased that the transaction has already received written support from nearly 60 per cent of our shareholders.” KKR declined to comment. |
Posted at 16/5/2024 22:05 by w13ken You've unquestionably been the most valuable and conscientious poster on IQGeo matters pf so many thanks for your contributions here over the years. It's not quite the full story that we hoped for but it's still been an excellent result for long-term holders. I hope to cross paths with you again on other forums.I don't suppose many, if any, would bother to leave IQG money in the pot for conversion to TopCo shares with their lack of liquidity and uncertainty so it's time to move on, with or without the wait for 480p. I'll share info on the rest of my portfolio soon and I'd be interested to hear more on ideas from others who were smart enough to be IQGeo investors. |
Posted at 12/5/2024 08:26 by p1nkfish Cyient are looking for IQGEO Consultants in India, US and Canada. They were at FTTH Europe and an interesting company for global tech outsourcing.cyient.com/investors |
Posted at 18/4/2024 20:56 by p1nkfish Investors holding more than 3% has been updated, to date of 30th March 2024 and can be compared to the figures in the 2023 Annual Report.73.78% now held amongst the top 7 groups, 1 of which is the Directors. There has been distribution into a base of lower volume holders compared to last year. |
Posted at 22/3/2024 12:50 by w13ken pf, that Cavendish report is excellent - thanks for steering me there. The word that jumps out for me is Conservatively, with 54 mentions. Looks like they are sandbagging and there will be a chance to upgrade estimates in the coming months but a £5 target will do nicely for now.This afternoon's Investor Meet presentation is a must-watch. I've been actively encouraging investors on Twitter to join the call so we may get a few newbies here. Incredible that IQGeo has climbed over 800% in 5 years and isn't a bigger name. Still maintain this could be £Bn company in the next 3-5 years. |
Posted at 04/9/2023 13:09 by w13ken Ok we have a date. Looking forward to this one and getting an update on trading in H2...Interim Results and Investor Presentation: Interim results for the six months ended 30 June 2023 on 25 September 2023. Richard Petti and Haywood Chapman will also provide a live presentation relating to the interim results via Investor Meet Company ("IMC") on 27 September 2022 at 1:00pm BST. The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your IMC dashboard up until 9am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet IQGeo via: hxxps://www.investor Investors who already follow IQGeo on the IMC platform will automatically be invited. |
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