8th Aug 2024 14:45
IP Group PLC - London-based active investor in early stage science companies - Increases share buyback by GBP10 million to GBP30 million, after cash proceeds from investment exits so far in 2024 already exceed the total for all of 2023. Since December, IP Group has bought back 29 million shares, 3% of its total, for a combined GBP13 million. It has received GBP43 million in cash from exits so far in 2024, the majority of which came from the sale of Garrison Technology Ltd. It also notes that London-listed portfolio firm Intelligent Ultrasound Group PLC will make a "material return of capital" following a recent disposal of its own.
IP Group will release its half-year results on September 17.
Current stock price: 35.95 pence
12-month change: down 39%
By Tom Waite, Alliance News editor
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