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SMALL-CAP WINNERS & LOSERS: Asos rises on potential Topshop sale

30th Oct 2023 10:50

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

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SMALL-CAP - WINNERS

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Asos PLC, up 2.8% at 396.42 pence, 12-month range 320.33p-1,015p. The online clothing retailer rises following reports from the Telegraph that is in talks to sell the Topshop brand to Authentic Brands Group, a US company behind brands such as Ted Baker, Reebok and Forever 21. Over the weekend, the Telegraph said that Authentic Brands is plotting its acquisition of Topshop after a failed attempt to buy the business in 2020. Further, one of its major shareholders, Frasers Group PLC, rises 1.6% on news it has sold the intellectual property of Missguided to Chinese fast fashion firm Shein. Frasers says the move "enabled exciting discussions with Shein around opportunities for potential collaboration" across its portfolio of brands.

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Chrysalis Investments Ltd, up 2.1% at 54.0p, 12-month range 51p-258.5p. The investor in technology and finance startups says its net asset value per share at September 30 falls 1.6% to 134.65p from 136.86p on June 30. However, the company remains optimistic, noting "some signs of life" in private markets and an indication that investor risk appetite is recovering.

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SMALL-CAP - LOSERS

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Seraphim Space Investment Trust PLC, down 4.6% at 33.00p, 12-month range 26p-54.2p.

Shares in the space technology investment firm fall, after failing to gather much momentum amid a lacklustre set of annual results earlier this month. In the last financial year to June 30, it reported a 7.1% drop in NAV per share. However, it cited a confident outlook alongside its results, with its portfolio poised to benefit from increased defence and climate-related spending.

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By Elizabeth Winter, Alliance News senior markets reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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