3rd Dec 2021 15:15
Augmentum Fintech PLC - investment company focussing on the fintech sector - Notes asset manager abrdn PLC looking to acquire investment platform interactive investor for GBP1.49 billion on Thursday.
Says transaction implied that valuation of Augmentum's investment in interactive investor currently is GBP42.4 million, up 16% from GBP36.7 million as at September 30. Notes this represents a 3.2 pence increase in net asset value per share of 147.7p at September 30. Adds this also represents a 2.7p increase from the net asset value per ordinary share after performance fee quoted 142.1p as at September 30.
Augmentum acquired its interest in the company in March 2018 at valuation of approximately GBP3.8 million. Concludes that realisation of its interest in interactive investor now would represent a multiple of nine times the initial cost with an internal rate of return of 87%.
Current stock price: 161.70 pence
Year-to-date change: up 20%
By Abby Amoakuh; [email protected]
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