Update: It's the taking part that counts
Innovations has invested £4m of its recently raised £150m equity financing in Abzena’s IPO on the AIM market of the LSE. At the issue price of 80p per share, Abzena’s value to IVO’s portfolio would increase by £7m (+60%) to £18m. Importantly, Innovations ensures a similar holding (now 23.6% vs 26.2%) in Abzena is maintained, to retain its exposure to potential upside from further valuation inflection points. Innovations’ recent financing was transformational in enabling the group to invest in its maturing company portfolio, to potentially release further ‘hidden’ value, while offering the prospect of a capital self-sufficient future.
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