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TFG Tetragon Financial Group Limited

14.05
0.05 (0.36%)
17 Apr 2025 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tetragon Financial Group Limited LSE:TFG London Ordinary Share GG00B1RMC548 ORD USD0.001
  Price Change % Change Share Price Shares Traded Last Trade
  0.05 0.36% 14.05 0.00 08:21:29
Bid Price Offer Price High Price Low Price Open Price
13.80 14.30 14.05 14.00 14.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 521M 352.2M 4.0344 2.62 1.22B
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 14.05 USD

Tetragon Financial (TFG) Latest News

Tetragon Financial (TFG) Discussions and Chat

Tetragon Financial Forums and Chat

Date Time Title Posts
05/4/202515:17Tetragon755
05/6/200310:31The Bear Club...... Taylor & Francis Group50

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Posted at 17/4/2025 09:20 by Tetragon Financial Daily Update
Tetragon Financial Group Limited is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker TFG. The last closing price for Tetragon Financial was US$14.
Tetragon Financial currently has 87,300,000 shares in issue. The market capitalisation of Tetragon Financial is £921,015,000.
Tetragon Financial has a price to earnings ratio (PE ratio) of 2.62.
This morning TFG shares opened at US$14
Posted at 05/4/2025 15:17 by westofengland
Like Chrisdgb, I trimmed earlier this year and bought back a couple of weeks ago at 14.90. The managers of Tetragon are very smart people and consistent good stewards of our capital.

Rest assured if there is a reduction of interest in Equitix or Ora Banda, it will be done at prices which reward TFG shareholders.

West
Posted at 03/4/2025 11:16 by houseofpain1
Interesting news out this morning on Equitix. Infralogic reporting that sale of Equitix has entered its final round with strong interests from US investors. TFG reportedly entered into exclusive talks with a bidder, possibly Franklin Templeton. No mention of price but assuming around the levels reported last October, this should lead to a large uplift in TFG's NAV and possibly (hopefully!) also a hugely accretive return of capital given the still enormous discount to NAV.
Posted at 14/2/2025 09:36 by houseofpain1
That's a good summary. Just to give a bit more colour on Hawke's Point, most of the exposure there is to an ASX- listed mining company called Ora Banda. I don't know exactly when TFG/Hawke's Point began investing in that (as far as I can tell, a long time ago) but if you dig out the chart you can see that it has been a phenomenal investment, rising by +1,779.17% over 3 years. Its share price also explains the vol in the Wexboy's commentary. The shares previous peak was 0.95c on 31 October 24, after which they fell back to around or below 0.7c. They finished the year at 0.66c. Since then they've been on a tear again buoyed by postive developments at one of their mines and I expect the rising gold price. They are trading today at AUD$1 - +53.85% YTD which that equates to around +$120m or nearly +4% on TFG's 31 Dec 24 NAV.
Posted at 13/2/2025 08:53 by value hound
"Wexboy's" take on things - a great read...

hxxps://wexboy.wordpress.com/2025/02/13/2024-annual-review-out-of-sync/

2024 was (finally) a real inflection/breakout year for Tetragon Financial Group, with investors enjoying a +42% share price gain (& a +4.5% yield). This reflects a +15.4% NAV/share total return – its best in years, again reinforcing its longer-term record of low-volatility 9-10%+ pa net returns – and a narrowing of Tetragon’s NAV discount from 68% to a still astonishing 60%. [Worth highlighting: Even with zero NAV gains/dividends, that relatively small discount compression would have still delivered a +25% shareholder gain!] Crucially, it also helps silence the haters – who were always happy to trot out their usual misconceptions, lies & ancient history here – further improving sentiment, with the stock up an additional +10% YTD & hitting new all-time-highs). And I’d expect further gains ahead, based on anticipated developments this year with some key investments…not to mention a fresh wave of buying IF the shares ultimately trade $19/$20+ a share (per my usual rule – most punters only get interested after a share doubles!).

There were three main NAV drivers last year: The first was Hawke’s Point, which finances high quality mining projects in the Australian (& North American) resource sector – its value grew almost +70%/+$80 million last year, net-net, albeit masking significant (downside) volatility along the way from a peak $320M value as of end-October. [One can hardly complain about the overall net gain!] The second is Ripple Labs A&B Preferred Stock, which gained an astonishing 130%+/$135M+, in the last two months of the year, reflecting its SEC win earlier in the year, the election of Trump & a new crypto-friendly administration in November, and a subsequent four/seven-fold gain in $XRP’s market price. Third, we saw a +25%/+$185M gain in Tetragon’s 75%+ stake in Equitix, received the welcome news in October of an actual sale process (still ongoing today), and confirmation TFG’s stake had increased to 81.5% but would now accrue a tail/profits liability to former Equitix management (for the moment, I’m assuming it still nets back out to an effective 75% stake). All told, less dividends & a measly $25M tender offer – that’s less than 1% of NAV & barely 40%+ of the tender offers in 2023 – those gains in value net out to a near-$350M NAV increase last year.

This year, hopefully we see an actual sale of Equitix – a £1.5 billion price tag has been floated, vs. $14B+ of AUM, reflecting other recent deals & a voracious appetite for alternative/infrastructure asset managers. That price may be a bit rich, but I’d expect an actual deal to still offer significant upside for Tetragon’s 75%+ stake, vs. a year-end $922 million value. [Which would again confirm the (prudent) valuations assigned to TFG Asset Management, which is currently valued at $1.6B vs. $41.2B in AUM (up 50% from $27.4B at end-2019)]. And such a deal could obviously equate to 80%+ of Tetragon’s current market cap – and net debt’s still under 10% of gross assets, so there’s no pressing need to repay any of it – so that’s where the rubber really meets the road:

Either Griffith & Dear flex their control muscles, attempt to reinvest the cash & personally collect the fees on the management contract for another 5/10 years, OR they actually focus on enhancing/realising shareholder value via a massively accretive tender offer for a huge % of Tetragon’s o/s shares.he former was investors’ default assumption to date (& rightly so), but as the principals age out (& want to potentially revalue/realise their own stake), and TFG’s other management/employees lobby re their steadily growing stake, and noting the sheer scale of this potential deal, the odds shift in favour of the latter…clearly it’s still an entirely event-driven scenario, but IF we see a sale & IF we see a massive tender offer, then we’ll also see a step-change in sentiment & the NAV discount. Further, let’s hope we can also add some crypto pixie-dust to the equation – back of the envelope, Tetragon now owns somewhere between 2.25%-2.5% of Ripple Labs, whose private market (equity) value is currently worth something like $14/$15.5 billion today, vs. its actual treasury of 43.3B+ $XRP, which is currently worth something like $107B! That’s a hell of a value gap, one that could potentially be closed/realised via what I’d call an anti-$MSTR strategy, ie (gradually) selling $XRP crypto & buying Ripple equity.

And Ripple Labs has already started down this road – executing two/three tender offers in the last year, funded from $XRP sales – a strategy that could attract a lot more attention & be further refined IF Ripple & Brad Garlinghouse actually propose an IPO, now that Trump’s in the White House. So yeah, it’s definitely a good idea here to do the math & figure out the potential/asymmetric upside for Tetragon on its Ripple Labs stake…vs. its current $1.3B market cap (& a potential/impending sale of Equitix).
Posted at 20/1/2025 13:55 by makinbuks
Its been a while since the reports surfaced but yes lets hope so. The fundamental problem remains the discount, which in turn has to do with wealth managers being unable to promote this to their clients due to a)costs and b)the share structure
Posted at 10/1/2025 15:54 by bench2
Wow massive volume for TFG today , pushing price up to U$16 , any idea what is driving the Share Price .
Posted at 19/12/2024 11:23 by houseofpain1
Straightforward yes but your argument completely ignores Tetragon's structural/governance deficiencies the most pertinent one of which is the lack of voting rights which essentially means management can do pretty much what they like for as long as they like. Because of this, and irrespective of the underlying assets, TFG deserves to trade at a meaningful discount.
Posted at 02/12/2024 19:20 by f56
There are similar companies to TFG that are trading at a premium.
Posted at 08/11/2024 14:13 by alpal2
I believe that management fees are based on NAV [not share price] so directors have no interest in looking after shareholders. I hope any deal for Equitix gives full disclosure. This will tell whether the NAV is genuine or just invented to push up director's income.
Or am I just sore because I sold half my shares in last tender.
Posted at 14/10/2024 10:04 by chrisdgb
Interesting.............

In the news today, Tetragon Financial Group (TFG LN/NA) is looking for buyers for its infrastructure business Equitix according to reports. Equitix has c.$14bn AUM and a suggested price tag of $1.5bn. TFG acquired the business for £160m back in 2014 and currently owns a 75% stake.
Tetragon Financial share price data is direct from the London Stock Exchange

Tetragon Financial Frequently Asked Questions (FAQ)

What is the current Tetragon Financial share price?
The current share price of Tetragon Financial is US$ 14.05
How many Tetragon Financial shares are in issue?
Tetragon Financial has 87,300,000 shares in issue
What is the market cap of Tetragon Financial?
The market capitalisation of Tetragon Financial is USD 1.22B
What is the 1 year trading range for Tetragon Financial share price?
Tetragon Financial has traded in the range of US$ 9.65 to US$ 16.55 during the past year
What is the PE ratio of Tetragon Financial?
The price to earnings ratio of Tetragon Financial is 2.62
What is the cash to sales ratio of Tetragon Financial?
The cash to sales ratio of Tetragon Financial is 1.77
What is the reporting currency for Tetragon Financial?
Tetragon Financial reports financial results in USD
What is the latest annual turnover for Tetragon Financial?
The latest annual turnover of Tetragon Financial is USD 521M
What is the latest annual profit for Tetragon Financial?
The latest annual profit of Tetragon Financial is USD 352.2M
What is the registered address of Tetragon Financial?
The registered address for Tetragon Financial is MILL COURT, LA CHARROTERIE, ST. PETER PORT, CHANNEL ISLANDS, GUERNSEY, GY1 1EJ
What is the Tetragon Financial website address?
The website address for Tetragon Financial is www.tetragoninv.com
Which industry sector does Tetragon Financial operate in?
Tetragon Financial operates in the TRUST,EX ED,RELIGIOUS,CHARTY sector

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