Kemeny Capital has issued a new note on Tekcapital highlighting the current value of their portfolio companies and the discount to their current market cap.
After what was a busy week for Tekcapital last week, their shares traded at a 29% discount to their portfolio companies’ NAV on Thursday.
As of the close 17th August, Kemeny Capital noted Tekcapital’s portfolio company NAV was £64.4m, based on the current market prices of Belluscura shares, and recently floated Innovative Eyewear.
Tekcapital’s 100%-owned smart eyewear company, Luycd, saw the NASDAQ IPO of Innovative Eyewear on Monday which valued Tek’s 71% stake at $39m. A couple of day’s trade in the open market saw Tekcapital’s stake valued at the equivalent of £29.1m, as of the close 17th August.
The Kemeny Capital note highlighted investors will likely be eagerly awaiting further commercial success from Tekcapital’s portfolio to gauge the future earnings trajectory of the companies, and any changes to current book value.