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Iain Gilbert Sharecast News
21 Jan, 2022 07:50

HgCapital makes additional investment into Lyniate

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HgCapitalSharecast graphic / Josh White

HGCapital Trust

539.00p

14:04 06/01/25
0.37%
2.00p

Private equity firm HgCapital said on Friday that it will make an additional investment into healthcare data interoperability firm Lyniate.

Equity Investment Instruments

12,413.09

14:05 06/01/25
0.54%
66.40

FTSE 250

20,708.60

14:05 06/01/25
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n/a

FTSE 350

4,546.36

14:05 06/01/25
n/a
n/a

FTSE All-Share

4,503.03

14:05 06/01/25
n/a
n/a

HgCapital, which did not disclose terms of the deal, said the transaction would result in it investing approximately £8.1m in Lyniate, alongside other institutional clients of Hg.

The FTSE 250-listed group also stated the transaction represented an uplift on its current investment in Lyniate of £7.5m, equivalent to 21% or 1.7p per share over the carrying value of £35.4m in the firm's net asset value as of 30 September 2021.

The investment will also reduce HgCapital's outstanding commitments to invest in transactions to approximately £396.0m.

HgCapital added that based on the 30 September reported net asset value, the pro-forma NAV of the trust was expected to be £1.89bn, or 416.2p per share, while liquid resources available for future deployment were estimated to be £325.0m, or 17% of the 30 September pro-forma NAV.

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