10% hike for TVC Holdings
The increase in the company’s share price followed the first set of result since the company listed on the Dublin exchange in July, showing a net gain of €0.3m on its investment portfolio since the flotation.
Even with yesterday’s increase in the share price, the company was trading at a discount to value of its cash and investments. But executive chairman Shane Reihill said he was confident the market will eventually recognise the potential of the company.
TVC has investments in 14 companies, including stakes in listed anti-fraud software developer Norkom, the Quality and Comfort Inn chain of hotels and a number of private technology companies.
Mr Reihill said TVC’s strategy was to reduce its investments to between four and six high-growth companies in the next five years.
The company has over €50m in cash to fund its investments and can borrow a further €30m if required. Mr Reihill said the company aimed to make “one or two” new investments in each year.
TVC Holdings shares closed up 10 cents at €1.10.
