Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Tekcapital portfolio company IPO progresses
There’s a note out today that should offer some cheer to capital market watchers, with news that Tekcapital LON:TEK portfolio company MicroSalt is progressing its IPO. That has come in the form of a retail offer being made via the Primary Bid platform and marks another exit down this route for Tek, following the IPO of its part-owned Belluscura portfolio company back in 2021.
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#2. SSP: large investor scales back
SSP [LON:SSP] The operators of franchised food and retail venues at transport hubs has published a TR-1 notifying of a modest scaling back in the holding of a major investor. Performance for the stock has arguably been lacklustre since the initial COVID sell off, with recent losses of more than 15% being seen in the wake of price action following a trading update.
#3. Vast Resources debt repayment update
Vast Resources LON:VAST has published an update on a debt funding situation. A loan had been due for repayment by Friday, this hasn’t happened and the company remains in negotiations in a bid to extend the loan terms, ensuring it has time to settle these historical claims.
