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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Svg Cap. | SVI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 735.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 735.00 |
| Top Posts |
|---|
Posted at 07/10/2016 12:56 by rambutan2 Cerrito, how about HVPE? It will be the only PE fofs in the ftse 250 with SVI gone. It's a high quality outfit and the best performer in the sector since it listed in 2007. And the discount is still in the 20s. Its website and investor info is good. |
Posted at 05/10/2016 22:28 by cerrito I agree with you Atholl91 the HVB bid is dead-especially with this evening’s to be expected news from LGEN and Av.We are faced with the sub optimum position of SVI(with an unfriendly major shareholder) scrambling around looking at one and perhaps other proposals to liquidate the portfolio-whole or in part- and presumably neglecting their ongoing business and I guess they will continue to neglect it for the next 4/8 weeks as they go through the various proposals. We may even find the Chairman says he needs an increase in his fee. The 21p per share estimate of wind up costs seems reasonable; of course there has been the benefit of the £ deval in the last few days . I would not want to budget on £ weakening much more from its current $1.275 and against the Euro 1.137/0.879 and do not see it strengthening all that much. I have had a quick look at the 7.16 portfolio and it seems as marketable as you would expect the assets of such a fund to be and one assumes that SVG would get permission to assign their commitment for disbursing undrawn commitments to counterparties of the quality of GS and the Canadian Pension Fund. I am going to be interested to see once the HVB bid expires tomorrow if the price falls below 650p |
Posted at 19/9/2016 17:29 by skyship Athol - I think perhaps you are under the misapprehension that it is HVPE making the offer - that is not the case. It is Harbourvest Partners.That said, I certainly agree with the other aspects of your post. HVPE should show that they are operating for the good of the stockholders as well as for the good of the managers. Shameful not to have a DCM in place nowadays. A dividend would help! |
Posted at 16/9/2016 15:59 by atholl91 Sky, apologies as I meant Large Cap ( over 1B ) Market Cap which is where institutions can deal in volume. Lots of value in under £500m. Removing SVI which has serious support amongst major institutions at over 3% discount is going to be very difficult - which is why I am a 700p man. |
Posted at 12/9/2016 11:04 by rambutan2 Nice start to the week. Am not totally surprised at Harbourvest move as they have made good money out of two previous take privates in recent years, Conversus and ????. SVI is perfect for them with its clean structure, net cash, big chunk of nav in fof in early run off so delivering cash, with rest in a few big quality mainly US based funds with which Harbourvest will probably already have relationships with. Coller get out and get revenge! |
Posted at 12/9/2016 08:00 by mad foetus I agree about the whole sector and if something as big as SVI is in play then presumably everything will be up for grabs. The key question for me is the board response: if they were to carry out an orderly disposal could they get materially better than 650p in an acceptable timeframe? What would you say are the next likely candidates for a buy-out? It could be that this whole sector may go from being listed to entirely institutional, which would be a loss, I feel. |
Posted at 27/3/2016 17:39 by rambutan2 To be fair to PIN, they have bought back plenty of shares in mkt at good discounts over last few years. The only peit to do so apart from SVI. Been nicely value accretive to shareholders."PIP began buying back shares in August 2011 and has so far invested £87.6m in buying back 13.7% of the Company's shares." |
Posted at 26/3/2016 23:31 by cerrito Thanks eeza for pointing out and correcting my snafuThanks Skyship for pointing out that there are bigger discounts than the 2 I have shares in FPEO and SVI. I got into FPEO as I had some of their zeros and into SVI in 2009 just after they did their rescue financing and may be that I have lacked curiosity. I had a quick look at PIN and see it is diversified, has had a net positive cash flow from investments in the last three semesters and unleveraged but as far as I can see has no shareholder return programme; my question is we have had RECI and FAIR trading at a premium last year and people wondering why VTA has a 20% discount and yet to me these three are far less transparent than the PE companies |
Posted at 26/3/2016 09:35 by eeza "• SVI is shrinking:in April 2012 there were 294m shares outstanding; at 12.14 192m and at 12.15 67m."Accounts state 159.978980m shares at 31/12/15. They also have 71.392872m shares in Treasury. |
Posted at 25/3/2016 21:12 by cerrito Having gone through the Prelims released a couple of days back, do not understand why this Trust continues to trade at a discount of approx. 23% to NAV; I could understand that discount some years back when it had a very concentrated portfolio,high gearing and no shareholder return mechanism. Now we have total borrowings of less than 4% of Net Worth; net cash 25% of Net Worth; an active shareholder return programme, a more diversified portfolio and commitment coverage of 1.6x. Tempted to increase my holding but not clear to me what will make the discount narrow significantly in the near term.Some things that caught my eye • Still have some concentration ie Freeserve 10% and Arysta 7%(both of which they state at least twice they are in the process of exiting), but of course much lower than in previous years. • SVI is shrinking:in April 2012 there were 294m shares outstanding; at 12.14 192m and at 12.15 67m. Total assets have of course gone down because of this(and reduction in gearing) ie June 2013 was £1.46b and at 1.16 was £1.052b. • Good to see post 2012 investments doing so well-a 19% total return. |
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