HgCapital Trust manager Hg to sell F24 to private equity firm Altor

(Alliance News) - HgCapital Trust PLC on Monday noted that its manager Hg will sell F24 AG, a software-as-a-service provider, to investor Altor.

The London-based investment vehicle, that provides access to the private equity investments of manager Hg, said the sale by Hg values HgCapital Trust's investment in F24 at around GBP18.4 million.

"This would represent an uplift of GBP800,000 (4% or 0.2 pence per share) over the carrying value of GBP17.6 million in the net asset value of HGT at 31 March 2024," the London listing explained.

HgCapital said the terms of Hg's F24 sale to Altor have not been disclosed. Altor is a private equity firm focused on investing in and developing medium-sized companies.

HgCapital Trust shares were 0.2% lower at 484.27 pence each on Monday morning in London.

By Tom Budszus, Alliance News slot editor

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