3i NAV to rise on back of four IPOs

By James Thorneley 3i Bioscience is likely to experience some immediate NAV uplift as four companies in its unquoted portfolio are close to IPOs. The four companies are AtheroGenics, Inspire Pharmaceuticals, Pointshare and Ista Pharmaceuticals. The £250m trust also owns 8% of XTL Biopharmaceuticals, a company which was due to list at the end of May. XTL postponed the flotation due to the current market volatility. The trust's stake in XTL is valued at cost at £2.3m. Based on the indicative price of the flotation, the value of its holding would have risen to approximately £10m, equating to...