27th Nov 2015 07:52
LONDON (Alliance News) - TMT Investments PLC, which invests in internet-based companies across a variety of sectors, on Friday said it has sold a small part of its equity stake in sales management software company Pipedrive Inc.
TMT Investments said the deal represents an uplift of about USD751,212, or 29%, to the fair value of its investment in Pipedrive as recorded on June 30. The uplift equates to an additional three cents in net asset value per share.
The company's remaining stake in Pipedrive is worth about USD3.1 million, having received USD249,490 for the part of the stake it sold.
The value of the remaining stake represents an uplift of about USD500,000 to that on June 30.
"This transaction reflects our active asset allocation strategy at TMT. We are pleased to see that attractive partial exit opportunities are available for privately held companies in our portfolio, which allows us to enhance our active management approach," Alexander Selegenev, executive director, said in a statement.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Tmt Investments