IP Group receives £13.1m from sale of Tracsis
IP Group has received net cash proceeds of £13.1m from the sale of its entire holding in portfolio company Tracsis.
Financial Services
14,075.11
17:09 19/04/24
-0.63%
-89.84
FTSE 250
19,391.30
17:09 19/04/24
n/a
n/a
FTSE 350
4,341.08
17:09 19/04/24
n/a
n/a
FTSE All-Share
4,296.41
17:08 19/04/24
n/a
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IP Group
46.40p
17:05 19/04/24
-2.32%
-1.10p
The FTSE 250 group, which develops intellectual property-based businesses, said total proceeds to date, including dividends, came to £14.3m.
This represents an internal rate of return of around 58% and a multiple of approximately 38 times the group's investment of £400,000.
At 1504 GMT, IP shares were up 1% to 170.20p.