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IP Group said net asset value per share fell in the first half of the year on losses in the value of both its public and private investments.
For the six months ended 30 June 2019, hard net asset value fell to £1,171.8m, or 110.6p per share, from £1,283.0m, or 121.1p per share respectively.
The portfolio also came under pressure from difficulties experienced by Woodford Investment Management, as valuations were impacted and funding availability was constrained.
Net portfolio fair value fell 3.3% during the period, of which £20.4m resulted from reductions in the quoted portfolio and £16.3m resulted from reductions in the private portfolio.
'IP Group remains confident in the prospects for its maturing portfolio, which is both geographically and sectorally diverse. We look forward to updating on progress and developments in the second half,' the company said.
At 8:28am: (LON:IPO) IP Group PLC share price was -0.35p at 69.15p