The collapse in small company markets over the past few months has taken its toll on IP Group, with the massive swing into the red the result of significant falls in the value of its largely illiquid investment portfolio.
IC TIP:
Hold
at
33p
IP invests in early-stage companies before seeking a trade sale or flotation. Last year, tough market conditions meant no flotations, although its portfolio companies did raise £55m. Of this money, £30m came from private financing, with the balance derived from public markets.