Kelso Group Holdings Reports Positive Start to Stock Market Life
Kelso Group Holdings, a U.K. investment company formerly known as Insight Business Support, has announced a successful relaunch and an impressive performance in 2023. The company revealed that it invested £3 million ($7.8 million) in purchasing shares in THG, using half of the funds raised. Currently, Kelso holds approximately 8 million THG shares at an average cost price of 61 pence.
On June 30, THG's share price closed at 81.5 pence, resulting in an unrealized gross gain of £1.7 million before taxes and pre-performance fees for Kelso. This represents a remarkable 35% increase over the overall cost price, as well as a pre-tax and pre-performance fee return-on-cash investment of around 58%.
Kelso's estimated net asset value (NAV) as of June 30 stands at £7.2 million. During the six months leading up to June 30, the company's board members voluntarily refrained from drawing a salary, and there were no property costs incurred.
"The U.K. small and mid-cap listed environment continues to present numerous opportunities for Kelso. Leveraging our extensive network, we diligently source and validate opportunities to assist other investors in realizing value," stated the company.
As of 0700 GMT, Kelso Group Holdings' shares remained steady at 2.60 pence.
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