Business
Half-year Report
Half-year Report.
About this update from Ip Group Plc
[{"type":"text","content":"\n \nRNS Number : 3123L IP Group PLC 18 July 2017 \n\n\n\n\n\n\n\n FOR RELEASE ON \n\n\n18 July 2017 \n\n\n\n\n(\"IP Group\" or \"the Group\" or \"the Company\")\n \nHalf-yearly results\n \nIP Group plc (LSE: IPO), the developer of intellectual property-based businesses, today announces its half-yearly results for the six months ended 30 June 2017. \nHALF YEAR HIGHLIGHTS\n \nCorporate update\n- £207m (gross) capital raise announced, including significant new shareholders from Australia, China, Singapore and the UK\n- Launch of IP Group Australasia; nine new university partnership agreements signed with leading universities in Australia and New Zealand\n- Completion of the acquisition of Parkwalk Advisors\n- Firm intention to make an all-share offer for Touchstone Innovations plc announced, with formal offer-related documents expected to be published today \n \n \nPortfolio update \n- Fair value of portfolio: £663.0m (HY16: £525.7m; FY16: £614.0m) \n- Net change in fair value of portfolio: £28.5m increase (HY16: £24.5m decrease; FY16: £7.0m increase)\n- Capital provided to portfolio companies and projects: £20.1m (HY16: £12.8m; FY16: £69.7m) \n- Significant funding rounds completed by Ultrahaptics Holdings Ltd (£17.9m), Actual Experience plc (£17.5m) and Creavo Medical Technologies Limited (£13.4m)\n \n \nFinancial and operational update \n- Net assets of £968.1m (HY16: £748.5m; FY16: £768.7m)\n- Hard NAV of £890.5m (HY16: £683.5m; FY16: £706.5m)\n- Return on Hard NAV of £21.3m (HY16: loss of £30.6m; FY16: loss of £7.6m) \n- Gross cash and deposits at 30 June 2017: £263.1m (HY16: £174.7m; FY16: £112.3m) including net proceeds from capital raise of £...