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Investment company Apax Global Alpha said the value of its stake in Baltic Classifieds was boosted after the latter's shares started conditional trading on the London Stock Exchange on 30 June 2021.
The closing price per ordinary share at the end of the first day of unconditional trading on 5 July 2021 was £2.10.
At the closing price and based on closing exchange rates, Apax Global Alpha's remaining look through position in Baltic Classifieds Group was valued at about €20 million.
AGA's pro rata share of IPO proceeds received by a subsidiary of Apax IX on closing of the IPO was €10.8 million.
'Together with the remaining value, this represents an uplift of c.76% or about €13.1m2 to BCG's fair value at 31 March 2021 and an uplift of about 1.0% of AGA's adjusted NAV (or €0.03 per share) at 31 March 2021,' the company said.