IP Group and Arix
Positive news today
Today’s update from RTW has got the market really (not) excited.
I recently wrote about RTW and the merger with Arix.
I spoke of Arix being worth the equivalent of £1.90 NAV a share of the combined entity.
Well today that number lifts 17p to £2.07 NAV a share, so a 35% discount to future NAV - where the NAV is below what holdings are actually selling at.
The increase of £2.07 is due to a 15% increase in NAV to $399.3m, announced today at RTW - check out their December 2023 newsletter here.
I particularly liked reading in their newsletter:
“$150bn or 1/3 of acquirable US market cap has been taken out”
“Bristol and Merck face must remain active or face a patent cliff risk”
“Meanwhile companies…. have over $200bn of unused capacity that is growing rapidly”
Very positive read across for the OB20 IP Group stuffed full of candidates, as well as 11th placee NSCI. Yet the market is asleep.
This is not advice
Oak