Schroder Uk Public Private Share Discussion Threads

[chucko1] 30/9/2021 11:02

Got to say, it's really well offered still. Just bought a few basically at the bid.

[chucko1] 30/9/2021 10:55

NAV +8pps I calculate

[scrapheap] 30/9/2021 10:34

So we're another £40m up based on 600p - which is probably 'frothy' but still nice to start with.

[scrapheap] 30/9/2021 10:29

FANTASTIC

They only sold 10% of their holding!!! £11m

So they are capturing 90% of the uplift from 425p to currently 600p...

I'll let a number cruncher work that out for us re NAV

[cousinit] 30/9/2021 09:32

Hopefully the resources of Schroders would ensure that they had access to a dictionary. Majority should probably have been used rather than partial if it was more than half. Again, with the listed capabilities they keep banging on about, they should have had an idea of the kind of market cap that ONT would be rewarded with. A partial sale shows intent to diversify and raises cash outside of any lock up period.

[chucko1] 30/9/2021 08:56

If I were SUPP, I would

a) sell half of my ONT (the overall exposure is now far too large - discipline matters)
b) write off the value of ALL the clear garbage
c) effectively relaunch the fund with the marketing benefit of their first big win (and it is)
d) Look to repurchase shares were the discount to remain in the 25% area

Clearly big doubts remain - the share price is rather stuck at the measly 35p (though 36p is trading, but then so is 34.5p). The reputational burden appears sticky!

[chucko1] 30/9/2021 08:48

Well, if you go along with the Hanbury thesis, you would. But SUPP have a varied agenda!

[bamboo2] 30/9/2021 08:41

chuck, The ONT prospectus published later today might have more detail.

ONT currently up approx 30-35%

Might be a good thing for SUPP if they held back?

[chucko1] 30/9/2021 08:35

At the current ONT share price, the NAV lift for SUPP in theory is nearer to 8-9p

But that assumes they held on to all of them and that is something about which I have no idea. If they have held half, then it's 7p or thereabouts.

[bamboo2] 30/9/2021 08:21

chuck, thanks for the reply.

I have studied NGS for a while now, and totally agree with Hanbury. ONT have invented the third generation of NGS, while almost everyone else is still on first or second.

[scrapheap] 30/9/2021 08:06

Nice of IP to confirm their sale and holding details so early. Why can't supp have done the same?

[spectoacc] 30/9/2021 08:06

545p open. The SUPP juniors have form on this. Let's hope a decent rump of it remaining.

[spectoacc] 30/9/2021 07:55

IP Group have sold £84m's worth (but still got loads). ONT looking big up so far in auction.

[scrapheap] 30/9/2021 07:41

Ont prospectus will confirm the selling shareholders and amounts when it's up anyway.

[spectoacc] 30/9/2021 07:37

All as expected - will SUPP say how many they've sold?

[scrapheap] 30/9/2021 07:35

Ont price at 4.25. Conditional Trading starts today...

[chucko1] 29/9/2021 23:14

Unfortunately I cannot provide a link as it was a zoom thing which they do quarterly for clients. Their claim is that by some metrics, the ON gene sequencing hardware is of the order of 1mn x cheaper/quicker per sequence. And the device is fractional in size/portability which, apparently, has considerable practical implications. They have held this view for a long time and had envisaged an IPO in Q3/4, so they appear to be on top of this.

Hanbury owns this in his own funds (Brook) and Odey owns it in his fund (Odey).

[bamboo2] 29/9/2021 20:49

cfh, ON Tech shares rumoured to start trading Friday.
Should be confirmed tomorrow.

chuck, do you have a link to Hanbury's comments on the co?

[chucko1] 29/9/2021 10:07

MO - a "gift"? 46p NAV if all goes to plan and a 35p (now) share price 24% discount with many markdowns having occurred and the debt dagger having gone makes it interesting indeed. But I am struggling to be "compelled"! Bought a few, though, even though I have other forms of exposure to ON.

Hanbury's analysis at Odey sees ON as having destroyed the competition and being worth far more than the float price. Just his (actually his co-manager) opinion, but no fools.

[cfhaigh76] 29/9/2021 08:50

If ON does get away well and maintains the 425p share price then it should add 5 - 5.5p to the NAV (based on my pigeon maths).

Will be interesting to see:

- how much of their ON holding they sell
- how much the price of SUPP reacts to the NAV uplift
- whether this is already baked into the current price

Anyone know what date the shares in ON start trading?

[scrapheap] 28/9/2021 16:45

That article also says the secondary offering has been increased too...

Hands up who expects SUPP to sell the bulk of this now - top slicing is prudent and inevitable given the concentrated exposure for the NAV but if wanting a larger listed % for the portfolio anyway going forward then for gawds sake don't give it away in the IPO - keep some chips on the table from then on!

[magnum opus] 28/9/2021 15:58

the slow-reacting share price would seem to be a gift?!

[chucko1] 28/9/2021 15:19

So just doubled up. Who would have thought?!

[chucko1] 28/9/2021 15:16

By my quick calculation, that would add 5pps to the NAV.