CIP Merchant Capital sells down stake in Alkemy

CIP Merchant Capital has sold 40,000 shares in Alkemy, it announced on Thursday, for €0.8m net of commissions and expenses.

The AIM-traded firm said its average buy-in price for its holding in Alkemy was €11.28 per share, and the average sale price was €20.08 per share, representing a cash-on-cash return of 1.78x.

“Following the Divestment, CIP holds a remaining interest of 361,415 ordinary shares in Alkemy,” the board said in its statement.

For the year ended 31 December 2020, Alkemy reported a net profit after tax of €1.82m, and had net assets of €31.40m.