6th Jul 2022 09:14
(Alliance News) - HgCapital Trust PLC on Wednesday said it will make another investment in team.blue, alongside its investment manager Hg.
HgCapital is a London-based investment firm that participates in the private equity investments of Hg. HgCapital will make a further net investment of GBP16.4 million in team.blue, a domain name and web hosting company.
The terms of Hg's investment in team.blue were not disclosed.
The investment values HgCapital's existing stake in team.blue at GBP51.3 million. This represents an uplift of GBP8.8 million, which is 21% or 1.9 pence per share over the carrying value of GBP42.5 million in the company's net asset value as of March 31.
The firm says the investment reduces its outstanding commitments to invest in Hg's transactions to around GBP573 million. This is around 27% of its pro-forma net asset value of GBP2.1 billion at March 31.
Shares in HgCapital were up 2.0% to 329.50 pence each in London on Wednesday morning.
By Elizabeth Winter; [email protected]
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