IP Group completes takeover of Parkwalk Advisors

Intellectual property-based business developer IP Group announced on Wednesday the completion of its acquisition of Parkwalk Advisors, which was first announced on 16 December, following receipt of approval of a change of controller application from the Financial Conduct Authority.

The FTSE 250 company described Parkwalk, founded in 2009, as the UK's “leading university spin-out focused EIS fund manager”, having raised over £100m to date - with the majority of funds coming from leading private wealth platforms, and having backed over 70 companies across its managed funds since inception.

“IP Group confirms that the issued share capital of IP Group plc remains unchanged, comprising 565,221,967 ordinary shares of 2p each,” the board said in a statement.

“There are no shares held in treasury.

“The total number of voting rights in IP Group remains 565,221,967.”