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SBO Schroder British Opportunities Trust Plc

76.00
0.00 (0.00%)
15 Oct 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Schroder British Opportunities Trust Plc LSE:SBO London Ordinary Share GB00BN7JZR28 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 76.00 30,788 08:00:03
Bid Price Offer Price High Price Low Price Open Price
74.00 78.00 76.00 76.00 76.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 3.68M 2.02M 0.0273 27.84 56.16M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:02:33 O 5,341 74.10 GBX

Schroder British Opportu... (SBO) Latest News (1)

Schroder British Opportu... (SBO) Discussions and Chat

Schroder British Opportu... Forums and Chat

Date Time Title Posts
21/6/202416:44Schroder British Opportunities Trust plc136
05/2/202111:38Free speech permitted. Trolling not welcome4
27/11/202007:32Schroder British Opportunities Trust-

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Schroder British Opportu... (SBO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-10-15 15:02:3574.105,3413,957.68O
2024-10-15 13:54:3774.8025,00018,700.00O
2024-10-15 08:00:2278.0021.56UT
2024-10-15 07:00:2276.75445341.54O

Schroder British Opportu... (SBO) Top Chat Posts

Top Posts
Posted at 15/10/2024 09:20 by Schroder British Opportu... Daily Update
Schroder British Opportunities Trust Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker SBO. The last closing price for Schroder British Opportu... was 76p.
Schroder British Opportu... currently has 73,900,000 shares in issue. The market capitalisation of Schroder British Opportu... is £56,164,000.
Schroder British Opportu... has a price to earnings ratio (PE ratio) of 27.84.
This morning SBO shares opened at 76p
Posted at 21/6/2024 16:44 by bmcollins
I have to say I am somewhat bemused by comments like "value will out but when", standing on a 30% discount and a continuation vote in May 2028 value will out, & 47 months is not, in the great scheme of things, very long to erase the 30% discount, especially as the bids every week that we are seeeing for micro caps is surely a signal that sentiment has turned.
In addition, anyone seeing the exit prices that SBO have achieved against book valuations clearly show that SBO's unquoteds are valued conservatively.
Posted at 04/12/2023 16:40 by spectoacc
The bubble isn't over until Bitcoin goes.

And the US big 7.

SBO may as well just say "We get paid handsomely whether you make any money or not. Meanwhile, we're going to punt some more unlisted unicorns at the top of the market.".

Rates aren't being cut before 2025 IMO. Why would they be? Possibly if the long-predicted (by me!) bad recession happens, but that doesn't help SBO's punts either.

But agree value will out eventually - guess I just don't see value at SBO.
Posted at 04/12/2023 16:35 by jonwig
Just seven US shares are driving the discrepancy. All the UK trusts are making the same point, some with buybacks. Yields (though not here in SBO) are providing some cushion. I believe value will out, but have no idea when.
Posted at 04/12/2023 14:53 by sphere25
"The world is an uncertain place as I write, and equity markets may well remain out of favour for the next few months. High interest rates and uncertainty over future rates have continued to be a major negative factor affecting investment companies that focus on growth. The assumption is that these companies will need cash to fund that growth and that will be expensive and/or difficult to get. Unfortunately, the market is not differentiating between those companies with genuine issues in this regard and those that have no such needs, as is the case with the vast bulk of our investments.

One result of this is that the price at which our shares are trading continues to significantly undervalue the Company as it does not reflect the strong fundamentals of our portfolio.

History suggests that within listed UK equities, small and medium sized growth companies are often the first to suffer in a bear market but also first to rerate on signs of recovery and a change in market sentiment. A reduction in interest rates may well be the trigger for this. UK inflation appears to have peaked, and some commentators are predicting a base rate reduction as early as Q2 2024. At the time of writing, we are experiencing some improvement in the share prices of our public investments. This has generated a post period end NAV increase of 4.7%.

Your Board expects that the patient shareholder will benefit when market sentiment changes and the value and quality of the underlying portfolio becomes appreciated."


Yes, some improvement in the share prices, but not enough. The rally in the US is spreading into the smaller caps - the IWM is making bullish moves. How about some of that over here in our small caps?

Even that BitCoin malarkey thinga ma wotsit is rallying. You know it is risk on when that rallies like this.

Can we have some more bullish here pleaseeeeeee!

All imo
DYOR
Posted at 11/4/2023 08:22 by cc2014
Thanks for #127

So, everything has it's price but what I conclude is that there is no way for me to work out what the NAV really is and therefore how am I supposed to take a punt

I guess what I can also work out is that there's a crazy amount of tech investment out there relying on follow-on funding which just isn't going to happen
Posted at 11/4/2023 07:09 by spectoacc
Everything has its price @Jonwig, tho that's the best I can say :) Schroders, strewth. Can't think of anyone less deserving of their fees.
Posted at 09/4/2023 17:18 by spectoacc
SB-Oh.

Front page of Sunday Times Business:

"Blow to British tech unicorn as backer writes off stake".

"The heavyweight investor that backed Apple and Google in their early years has written off the entire value of its stake in one of Britain's most promising technology start-ups".

Keep reading and you find out that zero is Graphcore..

There's some real nuggets:

"Graphcore ended 2021 with $140m of cash, and a further $187m in short-term investments. However, it lost $185m that year on revenues of only $5m...."


SBO holders, this is the sort of sh*t Roger, Ben, and Tim have been punting your money into. Graphcore topped out at a £3.4bn valuation, on $5m of revenues, and Sequoia Capital now value it at zero. Nada. Nothing.

"BG's Schiehallion fund has cut its valuation of Graphcore from $3.4bn to $1.7bn and SBO has cut its valuation [of Graphcore] by 25% in its latest revaluation."


Most incubators, VCs, PEs are chicken sh*t. They invest at increasingly crazy valuations, boosting their previous investment valuation in the same co's, until it all comes crashing down (assuming they haven't punted investments to each other first). Yet when it does start to fail, it's finger-in-air bullsh*t. BG think Graphcore's fallen from $3.4bn to - gasp - $1.7bn, exactly halved, implying no genuine calculation whatsoever. Sequoia can see that $185m losses on $5m revenues in 2021 means all the money's gone by, um, about now, so Graphcore will need to raise ASAP. But from whom? Not Sequoia. Not poxy, tiny SBO. Not BG, who went all-in on unlisteds in the boom.

Not from SVB bank borrowings.

SBO cut the valuation by 25%, BG by 50%, Sequoia by 100% - who's right? No prizes for guessing who I think is right, but clearly if more cash (then some more, and some more) is needed, billions isn't a correct valuation.

Doesn't this apply to most of the investments in early-stage but later-round rubbish? The bubble is over, the winners will be the few with profits (any?), and the few with cash to pull investments through the post-SVB, post-bubble world. The same happened in 99/00, most went to zero.

At least the lamentable SUPP has been through it (some of it!) already, hence 12p from £1 listing, 8 years ago now. How long is "Patient"?

Rant over. Link to SBO's Graphcore RNS, when they invested at a $2.8bn valuation:


Just a week ago, threat to move to US, begging letter to Rishi to use some of their chips - Sequoia's write-down post-dates this:
Posted at 24/2/2023 07:58 by jonwig
Schroder British Opportunities Trust plc ("SBO" or the "Company") is pleased to confirm that one of its private equity investments, Mintec, the leading global provider of price data, analytics and forecasts for agri-food, has announced the acquisition of AgriBriefing, to establish the largest agri-food-focused price reporting agency (PRA) and global information provider.



Good news, I guess, but what we really want is SBO's private investments to be taken out at a huge premium!
Posted at 03/2/2023 07:23 by jonwig
Research note, "SBO is trading on a wide discount despite its highly differentiated approach…":



Company-sponsored, of course, and they are clearly worried about the discount. The unquoteds need a bit of M&A activity to stir things up. NAV around 105p so nearly 40% discount.
Posted at 04/8/2022 09:05 by spectoacc
"The Company's private assets are currently held at their 31 March 2022 valuations"

Notwithstanding a couple of up-rounds, there must be serious downside risk to the NAV, which would take a couple of quarters to feed through.

Never thought I'd say it but - SBO makes SUPP look cheap (20p share price vs 36p "N"AV, a large chunk of it in the listed ONT).

Seen no evidence that Tim/Ben/Roger have any stock-picking ability whatsoever.
Schroder British Opportu... share price data is direct from the London Stock Exchange

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