20th Jan 2020 12:54
(Alliance News) - Technology investor TMT Investments PLC on Monday said its net asset value has edged higher following a series of revaluations at some of its investees.
TMT's net asset value rose by 1.4% to USD3.51 from USD3.46 in July.
The valuation of its investment in online fashion firm Le Tote Inc increased by roughly USD700,000, after the outfit was acquired by US luxury department store chain Lord & Taylor in November.
Private internet connection provider Remote.it, another TMT investee, completed an equity financing round. This boosted the value of TMT's investment to USD2.2 million.
Preventing an even larger increase to net asset value per share were USD900,000 and USD600,000 impairments in Sixa Inc, a cloud computing firm, and mobile app developer Drupe Mobile Ltd.
Elsewhere, the company has invested USD1.0 million in Affise Technologies Ltd, a marketing software firm, USD650,000 in advertising monitoring business Ad Intelligence Inc and USD220,000 in Timbeter OU. Timbeter provides software which allows users report and monitor timber inventory.
Bolt, a ride hailing app and another TMT investee, entered into a EUR50 million financing agreement with European Investment Bank, the European Union's lending arm.
Shares in TMT were untraded in London on Monday afternoon, last quoted at USD4.15 each.
By Eric Cunha; [email protected]
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