Hybridan Small Cap Feast 10/02/2022

The small cap feast team will be taking a break for the week of 14th February 2022 Dish of the day Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Following Nvidia’s decision to walk away from its planned US$40bn takeover of Cambridge-based chip designer Arm from Japan’s Softbank, after regulatory hurdles proved insurmountable, speculation is growing over a potential return to the London Markets. GCP Co-Living REIT plc, intends to float on the Main Market

Hybridan Small Cap Feast 09/12/2021

Air, a nano-technology company which leverages the absorption properties of activated carbon and other advanced materials to improve suspension systems, enhance acoustics or reduce noise, to join AIM. The Company's proprietary technology has allowed it to develop a unique portfolio of solutions for a variety of sizeable end markets, including vehicle suspension systems, acoustic insulation for domestic appliances and micro-speakers for smartphones. Mkt Cap and Capital to be raised TBC. Due Late

Hybridan Small Cap Feast 22/10/2021

Joiners No Joiners Today Leavers No Leavers Today What’s cooking in the IPO kitchen? Arrow Exploration Corp. (AIM: AXL ; TSXV: AXL) , the oil and gas exploration and production company, has conditionally raised approximately £8.8m and is due to complete its dual listing on AIM on 25 Oct. Market cap c£13.1m. Devolver Digital to join AIM, an award-winning digital video games publisher and developer in the indie games space. Recently awarded indie 'Publisher of the Year 2021' by GamesIndustry.biz.

Hybridan Small Cap Feast 23/09/2021

Joiners No joiners today. Leavers John Laing Group has left the Official List (premium) What’s cooking in the IPO kitchen? Eurowag confirms its intention to undertake an initial public offering on the Main Market (Premium). The Offer would be expected to comprise both (i) new Ordinary Shares to be issued by the Company, raising gross proceeds of approximately EUR200m to support Eurowag's growth strategy and (ii) existing Ordinary Shares to be sold by existing Eurowag shareholders. Eurowag is a l

Hybridan Small Cap Feast 23-09-2021

Eurowag confirms its intention to undertake an initial public offering on the Main Market (Premium). The Offer would be expected to comprise both (i) new Ordinary Shares to be issued by the Company, raising gross proceeds of approximately EUR200m to support Eurowag's growth strategy and (ii) existing Ordinary Shares to be sold by existing Eurowag shareholders. Eurowag is a leading pan-European integrated payments & mobility platform focused on the commercial road transportation industry. It make

Small Cap Feast

Pineapple Power, a special purpose acquisition company to seek and acquire businesses in the clean energy sector, has Joined the Main Market (Standard) raising gross proceeds of £1,316,010 (PNPL.L) Vector Capital (VCAP.L) has joined AIM, a commercial lending Group that offers secured loans primarily to businesses located in the UK. Substantially all of the Group's loans are secured by a first legal charge against real estate. The Group's customers typically borrow for general working capit

Small Cap Feast

Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m. Loungers plc—the operator of 146 café/bar/restaurants across England and Wales under the Lounge and Cosy Club brands, announces its intention to seek admission on AIM, offer TBC, expected late April. SDX Energy plc—a North Africa focused oil and gas company, announces its intention t

LIBERUM: Alternatives Daily: RECI | AGR | 3IN | CIC

LIBERUM: Conygar Investment Company - Increasing development activity

Small Cap Breakfast

InnovaDerma* (IDP.L) | onroy Gold & Natural Resources* (CGNR.L) | Bluerock Diamonds (BRD.L) | SDX Energy (SDX.L) | Conygar Investment Co (CIC.L) | Croma Security Solutions Group (CSSG.L) | Starvest (SVE.L) | Vertu Motors (VTU.L) | MySale Group (MYSL.L) | Creo Medical (CREO.L)

LIBERUM: Conygar Investment Company* - Sale of investment portfolio

LIBERUM: Conygar Investment Company* - H2 NAV return impacted by Pembroke Dock

Rising development exposure

Balancing act

Over the past three years, trusts with blended approaches rather than a strong tilt to growth or value have been at or near the top of the pack across the developed equities sectors, benefitting from their flexibility in a period of extreme style gyrations.

IP Group - Sale of Garrison Technology to Everfox

On 12 June IP Group announced that Garrison Technology, one of its key deeptech holdings, is being acquired by US-based cybersecurity company Everfox (formerly Forcepoint Federal), which has been Garrison’s partner for several years. IP Group highlighted that it would receive a cash consideration upon deal completion for its 23.6% stake in Garrison and that the valuation of Garrison implied by the deal will not result in any meaningful uplift to last carrying value. Based on this, we understand

City of London Investment Group (CLIG LN) - Preclose for year to 30 June

CLIG’s pre-close update reveals CLIG’s Funds under Management (FuM) rising 8.7% to $10,241m, with full year outflow of $320m and 12.1% investment performance. The Board expects the final dividend to be in line with the previous year: full results are scheduled for 17 September 2024.

Morning Note – 25 July 2024

Hargreaves Services - Initiation of coverage

Hargreaves Services has outperformed the AIM market and wider market over the past 1 year, 3 years and 5 years. In our view, this reflects a maturing profile of the business and an increased emphasis on crystalising value within the portfolio. We believe that the company’s specialised services offering and land development activities are well positioned to continue to perform over the next five years. In this initiation report, we provide a detailed overview of the operations and financial metri

PANMURE: UK Equity Research : Our Key Picks for 2024

PANMURE: UK Equity Research : Our Key Picks for 2024 – Q2 Update

PANMURE: UK Asset & Wealth Management : Interest in Interest

PANMURE: Johnson Service Group : Falling energy prices confirm upgrades

Polypipe - Acquisitions feed into FY21 earnings recovery

After a positive end to FY20, Polypipe has made an active start to FY21. The £210m acquisition of ADEY (part-funded by a c £96m gross new equity raise) is a significant step and fits well with the company’s product portfolio, market positions and its sustainable water/climate management business strategy. Including acquisition effects, we expect FY21 PBT to exceed FY19 levels, as they supplement an underlying EBIT recovery following a COVID-19-affected trough year. EPS approaches FY19 levels in

IP Group - Several potential portfolio catalysts on the horizon

IP Group’s NAV declined by 13% in total return (TR) terms in FY23, affected by continued soft valuations across venture capital (VC) markets, as well as funding delays at some of its holdings. That said, management indicated that many of IP Group’s portfolio companies continued to make strong progress. Its maturing portfolio offers a number of potential NAV triggers and is now available at a wide 59% discount to NAV. We note that, as at end-2023, only 14% of IP Group’s portfolio was valued based

Hardman & Co Healthcare Index: 2023 – Capital demands dent performance

The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (

City of London Investment Group (CLIG): First-half results going in the right direction

City of London has announced its interim results for 1H’24. With the main headline figures having being announced in January’s trading statement, the principal interest was in some of the details. FUM of $9.58bn is 2% ahead of the level at 30 June 2023 and 5% ahead of the end of 2022. Gross revenues increased YoY by 2%, whereas, expenses grew 6%, resulting in a slightly lower operating profit of $10.0m. On an underlying basis, profit before tax of $13.3m was a 2% decline over the 1H’23 figure. U

Hybridan Small Cap Feast 07/07/23

Joiners: No joiners today. Leavers: Medica Group plc has left the Premium Segment of the Main Market. What’s cooking in the IPO kitchen?** Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in the medical cannabis market by creating products that provide fast onset of action and accurate dosing, intends to join intends to join the Access Segment of the AQSE Growth Market. Expected Admission 20 July 2023. Metals One Plc, a company focusing on acquiring natural resou

Morning Note – 22 March 2024