17th May 2021 14:06
(Alliance News) - IP Group PLC on Monday said it has agreed the sale of a portfolio which will lead to a fair value gain of GBP20.0 million, or 2 pence per share.
Shares in the FTSE 250-listed company were up 1.0%, or 1.2p, to 121.40p in London Monday afternoon.
IP Group, a London-based firm which invests in intellectual property-based businesses, did not name the company or terms of the sale, but said it will provide further information "in due course". It said the company was part of its deeptech portfolio, which includes businesses in the advanced materials, engineering and information technology sectors.
The fair value of IP Group's portfolio was GBP1.16 billion as of December 31, the company said in its 2020 results.
By Ivan Edwards; [email protected]
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