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IP Group posts rise in fair value of portfolio

IP Group, which develops intellectual property (IP) based businesses, failed to impress investors on Thursday, despite reporting an increase in the fair value of the group's portfolio.

IP Group, which develops intellectual property (IP) based businesses, failed to impress investors on Thursday, despite reporting an increase in the fair value of the group's portfolio.

The value came to £201.9m at May 15th, compared to £181.8m at December 31st, a net unrealised fair value increase of £13.5m.

The portfolio currently consists of 71 intellectual property based companies, four higher than at the year-end.

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Alan Aubrey, Chief Executive of IP Group, said: "The group has continued to make good progress to date during 2013. The fair value of the group's portfolio has increased [...] largely as a result of a net increase in the value of the group's holdings in quoted companies.

"During the year to date, spin-out companies have collectively raised in excess of £30m with the group participating in every fundraising, in-line with its continued commitment to maintaining or increasing its stakes in post-seed portfolio companies through subsequent financing rounds."

The share price fell 1.09% to 145.40p by 11:30 Thursday.

NR

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