HgCapital Trust offloads stake in F24
HGCapital Trust
477.00p
08:19 03/07/24
-0.52%
-2.50p
Private equity firm HgCapital Trust has agreed to sell its stake in European software-as-a-services business F24 to Altona.
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08:24 03/07/24
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HgCapital said on Monday that the transaction valued its investment in F24 at approximately £18.4m, representing an uplift of approximately £800,000.
Terms of the transaction were not disclosed.
The London-listed trust added that based on based on its 31 March reported net asset value, its pro-forma NAV was expected to be £2.3bn, or 511.0p per share, while available liquid resources, which includes its undrawn bank facility of £375.0m for future deployment, were estimated to be £582.0m.
As of 0850 BST, HGCapital shares were up 0.28% at 486.36p.
Reporting by Iain Gilbert at Sharecast.com