IP Group welcomes placing by Fusion IP

IP Group, which develops intellectual property (IP) based businesses, has said its part-owned subsidiary, Fusion IP, a university IP commercialisation company, has conditionally raised 20m pounds through the placing of shares at 55p each.

IP Group, which develops intellectual property (IP) based businesses, has said its part-owned subsidiary, Fusion IP, a university IP commercialisation company, has conditionally raised 20m pounds through the placing of shares at 55p each.

IP Group has subscribed for 3.045m shares, representing an aggregate investment of £1.7m. Together with its exsiting stake in the company IP Group's holding is equal to 20.1% of the enlarged issued share capital.

Fusion IP has has also signed a memorandum of understanding (MoU) agreement with two additional universities - the University of Nottingham and Swansea University.

"Fusion IP's directors believe that by expanding the company's business model to new universities it will increase its access to additional IP and by raising additional funds it will ensure it has the financial strength to invest further in its key portfolio companies and to establish new companies out of its expanded pipeline," IP Group commented.

The new MoU agreements will allow for co-investment by IP Group, in line with the existing IP Group co-investment agreement.

IP Group's share price fell 2.05% to 143p by 15:30 Monday.

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
Here’s why markets have shrugged off the US political turmoil
Investment strategy

Here’s why markets have shrugged off the US political turmoil

Despite all the current political shenanigans in the US, markets couldn’t seem to care less. John Stepek explains why, and what it means for your mone…
7 Jan 2021
Free 6 issue trial then continue to