Primorus Investments Share Discussion Threads

[megaman2] 12/2/2023 05:52

The positive here is it's not really on the traders radar and we know some of the recent trades certainly on the way up to 3 p where the big tr1 holder so unlikely to return to the market anytime soon . It won't take a lot of buying to take this to 5p. By the same token it's not on many people's radar !! However it's one of the few places one could gain exposure to fresho or any of the other private listed companies . Could be the only way to get exposure .if you had any positive info which clearly happens say if you are an employee etc you might take some prim shares . Just hypothetical .

hxxps://gulfnews.com/business/retail/tatas-bigbasket-eyes-ipo-by-2025-after-200m-funding-1.92829934

Bigbasket valued at $3.2 billion and to ipo by coincidence it has a brand also called fresho . It's direct to consumer so different market to fresho but there is big money in this arena from what I can see .

[megaman2] 10/2/2023 09:53

Yes thank you so 4.34% not 3 % . Could be potentially worth more than current mkt cap.even $150 mill valuation is _$6.5 mill.

[megaman2] 10/2/2023 09:50

Yes thnx tried to find on Google but could not.

[dplewis1] 10/2/2023 08:24

Thanks Rupert

[betterupthandown1] 10/2/2023 08:14

For clarity Primorus Investments current shareholding in Fresho is 4.34% with 78.8m shares in issue.

[megaman2] 10/2/2023 07:59

No reason to doubt rbeekeepers $0.9 seems to make sense up from.$0.575 from the last fund raise. Let's hope there is some actual news soon of a liquidity event .

[dplewis1] 10/2/2023 07:55

That guy rbeekeeper did some good balanced research into prim but he sold out a few months back. Probably kicking himself a bit but always the way.. I've also tried to find a valuation when Fresho last did a funding round but can't see one - pretty sure Prim didn't take part and I think they still hold ~3.5m shares. Rupert reads this board sooo...

[megaman2] 10/2/2023 02:42

I think the last fund raise prim took part in was in march 2021. There has been a more recent fund raise some sources quoting $10 mill some $14 mill in June 2022 but there ks nowhere I can find at what price that took place at or indeed the company valuation based on that fund raise and shares in issue .

Ok.i checked LSE and found courtesy if rbkeeper this ,"Paid in total A$1,575,941 and using the most recent funding round of A$12 million @ A$ 0.90 you could say our shares are worth about A$3,074,150 an increase of about A$1,498,210"

So the last fund raise was at $0.9 aud about £1.75 mill in shares . If we own 3 % ( hearsay ) that would be a valuation of c £58 mill for fresho. A sale at $200 mill or ipo could mean prim shares value £5 mill. Current prim.mkt cap £6 mill.

[megaman2] 10/2/2023 02:35

Yes dplewis that might be realistic hence why I'm trying to find out the current valuation based on the last funding round last year . Also grubmarket recently raised $200 mill for aquistion which is how they have been growing their run rate . Fresho would be value accretive to them on that basis at $200 mill. You would expect an ipo to be higher than the last funding round valuation but nobody seems to know and I can't find it on Google seems it's a secret ...!

[murphy2000] 09/2/2023 19:50

Primorus Investments plc (AIM: PRIM) is pleased to announce its unaudited interim results for the six months ended 30 June 2022.
Release date
RNS Number : 1488Y
Primorus Investments PLC
02 September 2022

Overview

The last six months have been a difficult time for the capital markets with the war in Ukraine, rising inflation and political instability. With greater uncertainties, investors are more cautious which has had a negative effect on the asset valuations for some of Primorus' investments. Despite the level of unrealised losses in the first 6 months of this year, we remain confident in the longer-term prospects of these investments.

Notwithstanding the current market turbulence, Fresho Pty Ltd ("Fresho") successfully raised AUD$12m of new equity capital at $0.90 per share in April 2022. This represents a premium of 55% to the last investment made by Primorus in March 2021.

Primorus also invested £1,000,000 in AIM listed Clean Power Hydrogen ("CPH2"). CPH2 is a manufacturer of the membrane-free electrolyser (MFE) which is used to create hydrogen and medical grade oxygen. Since the original investment CPH2 has secured a 20-year licensing agreement with GHFG Ltd for the construction of 2 gigawatts of MFE electrolysers over a period of up to 20 years.

In addition, Alteration Earth PLC, a special purpose acquisition company which Primorus holds approximately 28% of the issued share capital, listed on the Main Market of the London Stock Exchange shortly after the period end.

[murphy2000] 09/2/2023 19:47

From
hxxps://primorusinvestments.com/our-investments/

Information on this page was last updated on 02/02/2023.

STRATEGIC INVESTMENTS
COMPANY NAME NR. SHARES HELD BY PRIMORUS PRICE PAID PER SHARE CURRENCY WEBSITE (WHERE AVAILABLE)
Payapps (Interest Payment) 65,058 1.000 AUD hxxps://payappscompany.com/
Payapps (Round 2 First Tranche) 1,000,000 1.000 AUD
Payapps (Round 2 Second Tranche) 1,000,000 0.860 AUD
Payapps (Exercise of Options) 1,000,000 0.5 AUD
Fresho (First Round) 1,111,111 0.270 AUD hxxps://www.fresho.com/
Fresho (Second Round) 197,368 0.380 AUD
Fresho (Third Round) 107,244 0.475 AUD
Fresho (Fourth Round) 2,000,000 0.575 AUD
Engage (First Round) 26,667 15.00 GBP hxxps://www.engagetech.com/
Engage (Second Round) 45,456 22.00 GBP
Engage (Third Round) 5,344 24.00 GBP
Engage (Fourth Round) 14,204
17.60
GBP
Engage (Fourth Round) 703 19.29 GBP
Rambler Metals & Mining PLC 1,500,000 0.2685 GBP
Clean Power Hydrogen 2,000,000 0.45 GBP hxxps://www.cph2.com/
Landore Resources Ltd 1,000,000 0.225 GBP hxxps://landore.com/
Alteration Earth PLC 5,000,000 0.07 GBP hxxps://altearthplc.com/
Interpac Ltd 42,735 5.85 GBP hxxps://www.inter-pac.co.uk/

[dplewis1] 09/2/2023 19:35

If they IPO'd this year and looking at past series A funding rounds + premium + some IPO fluff I'd even go under that and say $150-200m

[megaman2] 09/2/2023 18:26

$4 billion is completely over the top imo. I still can't find what fresho last funding round valued the company at I'm not claiming to be an expert on prim but it seems other investors who frequent here don't no much more either .

I posted my comparison on run rate alone and it came to $864 mill compared to grubmarket supposed valuation they have delayed their ipo because of market conditions . Also they are us based and would likely trade on higher multiples . A sale to grubmarket could be a possibility as they are growing by acquisition . $500 mill??? Someone said we own c 3% ?? That would be $15 mill?? All hypothetical but finding what are current value based on Last fund raise and our percentage im finding elusive . Perhaps somebody who does know could update.

[dplewis1] 09/2/2023 17:47

It's unlisted. I would have thought the intention will be to IPO at some stage but there are no documents and no news around it. Some rumours on here that the founders mentioned it on LinkedIn but no evidence was provided

[boystown] 09/2/2023 17:35

Is Fresho listed / going to list?

[chutes01] 09/2/2023 17:12

Paddington doing well, exciting times !

[dplewis1] 09/2/2023 16:56

Maybe try again when the market is open

[rental] 09/2/2023 16:54

everyone is trying to buy and no one is interested in selling,
this is a rare one that no one is selling at all.

[rental] 09/2/2023 16:53

chutes exactly why i’m trying to buy shares and can’t get any in quantity for days now,

i guess when reality sets in and this is over 20p the market markers will let us buy achaea’s again

[dplewis1] 09/2/2023 16:50

Lol nowhere near

[chutes01] 09/2/2023 16:17

fresho stake could be worth north of 25p for PRIM

[chutes01] 09/2/2023 16:16

its off again, 5p in quick order

[rental] 09/2/2023 16:10

fresho 4 billion float me thinks
anyone else got an opinion

[megaman2] 09/2/2023 05:20

May 2019"Fresho press ahead on its accelerated growth programme and completes a heavily backed A$2.55 million capital raise at 47% premium to our initial investment price. Primorus received a bid for its stake but declined the offer."

Just an rns from.almostv3 years ago people interested in prims holding back then .