A major Tekcapital shareholder has increased his stake in the business, the AIM-listed technology investment company announced on Thursday.
James Robert Kight has increased his stake to 8.09% from 7.03%, a holding that is worth circa £1.4m at current prices.
Mr Kight’s stakebuilding follows the move by another major shareholder, Elie Dangoor, to increase his stake to 6.24% in February.
The major shareholders have upped their holdings in Tekcapital after its portfolio company MicroSalt listed in February and quickly got off to a strong start as a listed company. After listing at 43p, MicroSalt shares nearly tripled before easing back.
Analysts at SP Angel and Kemeny Capital have recently given Tekcapital price targets of 18p and 29.9p, respectively, based on the underlying value of its portfolio companies. SP Angel said they saw a 74p price target for Tekcapital on the delivery of its growth strategy.
Based on today’s share price, the targets would imply at least a 100% upside in Tekcapital’s shares.
