Latest news with #ShoreCapital
Yahoo
2 days ago
- Business
- Yahoo
Winners of Defense Stock Frenzy in Europe, From Chemical to Goggle Makers
(Bloomberg) -- This year's surge in Europe's biggest defense stocks has elicited some obvious winners, leading investors to dig deeper beneath the surface for other names that might stand to benefit from the billions being diverted toward military budgets. Next Stop: Rancho Cucamonga! ICE Moves to DNA-Test Families Targeted for Deportation with New Contract Where Public Transit Systems Are Bouncing Back Around the World US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn The Global Struggle to Build Safer Cars From goggle makers to chemicals producers, and even a printing company, stocks with the merest link to defense have been snapped up, sending share prices soaring. While heavyweight Rheinmetall AG has tripled this year, the German tank and munitions maker's advance has been outshone by a fourfold jump in Exail Technologies SA, a supplier of maritime drone systems. Steyr Motors AG, a small producer of engines for tanks and boats, has seen a similar level of gains. 'There's been a real shift in investor appetite for UK and European small-cap defense companies,' said Jamie Murray, an analyst at Shore Capital Stockbrokers Ltd. 'There's a lot of momentum behind these stocks, with investors more willing to look past short-term challenges to medium-term opportunities.' Here's a look at some of the defense-related stocks that have caught the eye of investors: Night Vision Core defense stocks got an immediate boost when Russia invaded Ukraine in February 2022, but a handful of night vision specialists have come into focus more recently. Theon International Plc, which sells thermal-image and night vision goggles, listed in Amsterdam in February last year. The shares trade at more than three times their IPO price of €10 and at around 27 times blended forward earnings, its valuation is the most expensive of the night-vision cohort. Exosens SAS listed in June 2024 in Paris. It provides photo-detection and low light condition imaging solutions and serves customers worldwide. The shares are up 124% since their debut. Analysts are positive on the outlook for both Exosens and Theon, with most who cover the stocks rating them as a buy. Still, some investors are starting to book gains after this year's spectacular advance. More than €230 million ($262 million) of shares in Exosens and Theon were sold this week in separate block trades. Smaller peer NSE, also Paris-listed, is a producer of aircraft wiring, accessories and night vision systems. It's up around 45% in 2025, adding to two straight years of double-digit gains. Robotics Exail Technologies is another star of Europe's defense rally, its shares surging over 300% in 2025 and its market capitalization jumping to €1.26 billion from about €340 million in just a few months. The ascent started in early February with the announcement that the company had signed a contract worth hundreds of millions of euros for underwater drone systems for mine warfare. Exail has a full house of buy recommendations from the five analysts tracked by Bloomberg who cover the stock. Chemicals Alzchem AG, based in Trostberg, Germany, produces a raw material used in propellants for NATO-standard 155mm artillery ammunition. It has exposure to the defense push through its customers and European Commission funding. It also signed a contract with the US Department of Defense in 2024. Five out of six analysts tracked by Bloomberg who cover Alzchem have buy ratings on the stock. Industrials Industrial companies are enjoying varying degrees of success in aligning themselves with the lucrative defense theme. Obvious defense plays such as Rheinmetall, Leonardo SpA, Saab AB, Thales SA and BAE Systems Plc have become increasingly expensive, trading on average at around 34 times forward earnings, compared to less than 15 for the Stoxx 600 Index. No surprise then that investors have looked for cheaper alternatives. Thyssenkrupp AG, which trades at around 11 times forward earnings, has emerged as a major 2025 winner. The shares have more than doubled this year as the planned spinoff of its submarine-building unit drew fresh attention to the steel company's defense credentials. Deutz AG, an engine manufacturer, was initially reported to be among bidders for Thyssenkrupp's marine systems unit. There have been no concrete developments on that front, but the Cologne-based company's chief executive officer has said the firm is interested in defense. Its shares have soared 92% this year. On a similar theme, printing company Heidelberger Druckmaschinen AG is another German firm said to be exploring a shift toward defense. Its industry unit designs, constructs and equips factory production lines — capabilities that could have military applications. The stock is up around 56% this year. Other companies are finding ways to benefit from booming military budgets. In Italy, a bidding war for truckmaker Iveco Group NV's defense unit has sent the firm's shares to a record high. The company develops and manufactures specialized vehicles for defense and civil protection and has expanded into artificial intelligence and software technologies. It's said to be seeking up to €1.5 billion for its military unit. Mutares SE unlocked a spectacular return when the private equity firm listed Steyr Motors on the Frankfurt Stock Exchange in October. Steyr, formerly a struggling Austrian engine maker, is closing in on a 300% gain this year. Avio SpA, an Italian aerospace company, is exposed to two hot trends: defense and space propulsion. Its shares have surged over 50% this year. Avio says it is a key service partner to Italy's air force, manufacturing, designing and servicing the EJ200 engines for the Eurofighter Typhoon, among others. IT, Cybersecurity, Intelligence, Satellites Eutelsat SA has rallied this year, at one point soaring 300%, as investors saw it as likely to play a role in a new European military intelligence satellite network. The firm has put itself forward as an alternative to Starlink in Ukraine. Still, the shares have erased a large portion of their gains since the initial enthusiasm, weighed down partly by concerns around the company's debt. OHB SE, another satellite company, has also surged, and is regarded as a potential beneficiary of German investment after the Bremen-based manufacturer won a €2.1 billion order last year. Cohort Plc, a UK defense company based in Reading, has seven businesses specializing in areas such as satellite communications, surveillance, sonar systems, fire control and electronic warfare. Its shares rose 96% in 2024 and are up another 43% this year. Indra Sistemas SA, a Spanish IT firm which makes radar air defense systems, has more than doubled this year. Its chairman said in May that the firm also plans to build tanks. 'Accessories like telecommunications, radars, encryption — all of this is a big part of the value of the vehicle — and we were missing the other part,' Indra's Angel Escribano said last month. Shares in Mildef Group AB, a Swedish developer of military-grade laptops, tablets and tracking solutions, are up almost 80% this year, paring some of their advance on June 3 after CEO Daniel Ljunggren sold a third of his stake in the company. Headsets, Breathing Gear Invisio AB, another Swedish company, is the self-proclaimed global market leader in tactical communication and hearing protection systems. Its website features images of khaki headsets, intercom systems and cables. Its shares have climbed almost 30% since the year began. German medical equipment company Draegerwerk AG, whose breathing gear turned it into a Covid pandemic beneficiary, is up more than 50% so far in 2025. The company 'is positioning itself in the defense sector by leveraging its expertise in air filtration, sensor technology, and personal protective equipment,' Warburg analysts wrote in April. The two are part of the growing ranks of listed companies producing military gear, vehicles and weapons, and whose shares are surging as investors position for sustained defense spending by governments. 'The nature of warfare is changing,' said Graeme Bencke, a fund manager at Amati Global Investors Ltd. 'Things like space and cyber are increasingly important, as well as battlefield communication and autonomous vehicles.' --With assistance from Lisa Pham, Julien Ponthus and Julius Domoney. Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Is Elon Musk's Political Capital Spent? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
4 days ago
- Business
- Bloomberg
Billionaire Ishbia Reaches Deal for Future Control of White Sox
Justin Ishbia has reached an agreement that could pave the way for the private equity billionaire to take a controlling stake in the Chicago White Sox. The founder of Shore Capital Partners will inject money into the team this year and in 2026. In turn, he will have the option to acquire a controlling interest from 2034, according to a statement from the White Sox on Thursday.
CBS News
4 days ago
- Business
- CBS News
White Sox owner Jerry Reinsdorf strikes deal to possibly sell control of team to billionaire Justin Ishbia as early as 2029
Billionaire Phoenix Suns co-owner Justin Ishbia has reached an agreement with Chicago White Sox chairman Jerry Reinsdorf that could see Ishbia taking over control of the team as soon as 2029. The White Sox confirmed Thursday that they have reached a deal that will call for Ishbia, who's already owner of a small stake in the White Sox, to make new investments in the team in 2025 and 2026 to be used to pay down existing debt and support team operations. Under the deal, from 2029-2033, Reinsdorf would have the option to sell his controlling interest in the White Sox to Ishbia. Starting in 2034, Ishbia would have the option to acquire the controlling interest in the team from Reinsdorf. If Ishbia does end up with a controlling interest of the team at any point, other minority owners will also have a chance to sell their shares to him. Justin Ishbia is a founding partner in Chicago-based private equity firm Shore Capital. He and his brother, Mat, co-own the Phoenix Suns of the NBA and the Phoenix Mercury of the WNBA. Justin also owns a minority stake in the Major League Soccer club Nashville SC. The White Sox stressed that, under the agreement, Reinsdorf will continue to control the team at least through 2029, and that there is no guarantee Ishbia will eventually take over. Reinsdorf purchased a controlling interest in the team in 1981, and has run the organization ever since. "Having the incredible opportunity to own the Chicago White Sox and be part of Major League Baseball for nearly 50 years has been a life-changing experience," Reinsdorf said in a statement. "I have always expressed my intent to operate the White Sox as long as I am able and remain committed to returning this franchise to the level of on-field success we all expect and desire." This is a developing story.
Daily Mail
7 days ago
- Business
- Daily Mail
SMALL CAP IDEA: Poolbeg Pharma raises £4.1m to finance cancer drugs
Raising fresh capital is a familiar rhythm for early-stage biotech companies. For Poolbeg Pharma, the question is not simply whether it can fund its ambitions, but whether its pipeline can justify them. Expert opinion is broadly optimistic on this point - bolstered by a major tick in the box from the US regulator. The company recently announced a £4.1million equity raise, priced at 2.5p per share, a 12 per cent discount to the market price, to finance the next stage of development for its two lead assets. They are POLB 001, targeting cancer immunotherapy induced cytokine release syndrome (CRS), and an oral glucagon like peptide 1 (GLP-1) receptor agonist designed for obesity treatment. The latter is a next-generation, easier-to-administer upgrade to jabs such as Ozempic and Mounjaro. Tackling a major cancer therapy bottleneck POLB 001 is seen as a potential game-changer. It is being developed to tackle cytokine release syndrome, a serious complication arising in patients undergoing CAR-T or bispecific antibody therapies, where an overactive immune response can lead to high fevers, low blood pressure and organ failure. According to analysts at Shore Capital, CRS affects over 70 per cent of patients receiving such therapies and has been a major limiting factor in their wider deployment. POLB 001 is designed as an oral preventative treatment, a notable shift from existing drugs like Roche's injectable Actemra, which is approved for treating CRS after symptoms appear. Broker Cavendish notes that Poolbeg's preclinical and human challenge data already show clear suppression of key inflammatory cytokines. If Phase 2a data confirm this, the company could be first to market with an oral CRS prophylactic, a development that Cavendish estimates could unlock a market opportunity exceeding $10billion, initially in blood cancers and potentially in solid tumours too. The Phase 2a trial is expected to begin in the second half of this year. Big Pharma is reportedly providing the bispecific antibody therapy used in the trial at no cost, a move analysts at both Shore and Cavendish interpret as early validation of POLB 001's commercial promise. Crucially, the putative treatment recently received orphan drug designation from the America's Food & Drug Administration, which significantly enhances POLB 001's commercial appeal, especially when engaging prospective partners. This regulatory tick in the box can't be overstated. Seeking a slice of the weight loss boom Poolbeg's second programme enters another multibillion-dollar market: obesity. With injectable GLP-1 agonists such as Ozempic and Wegovy driving record revenues for Novo Nordisk and Eli Lilly, the race is now on to develop effective oral formulations that improve patient convenience and compliance. Poolbeg's answer is a proprietary microencapsulation technology licensed from AnaBio. A proof-of-concept study will begin this year at the University of Ulster, with topline data due in the first half of 2026. ShoreCap argues that the approach could provide a differentiated product in a market forecast to reach $150billion by the early 2030s. Cash, catalysts and credibility Cavendish notes Poolbeg ended the first quarter of 2025 with £6.2million in cash. The current raise, assuming shareholder approval, will extend the company's runway into 2027. That should be enough to reach multiple clinical milestones and, ideally, deliver the data needed to secure commercial partners. Importantly, the raise also comes with insider backing. Executive chair Cathal Friel has committed to invest £100,000, providing a measure of confidence in the company's direction. Execution Still, investors should keep their eyes on execution. While both POLB 001 and the GLP-1 asset are tackling real clinical problems with significant market potential, they remain pre-revenue and subject to trial risk. Poolbeg's ability to translate promise into partnerships will be the key driver of any future valuation shift. Cavendish maintains a 19p target on the shares, implying significant upside from the current 2.9p. But for that to materialise, the next 12 to 18 months will need to deliver more than just well-funded plans. They will need hard data. For all the latest small- and mid-cap news go to
Yahoo
20-05-2025
- Business
- Yahoo
Form 8.5 (EPT/RI) - H & T Group
FORM 8.5 (EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the 'Code') 1. KEY INFORMATION (a) Name of exempt principal trader: Shore Capital Stockbrokers Ltd (b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree H&T Group Plc (c) Name of the party to the offer with which exempt principal trader is connected: H&T Group Plc (d) Date dealing undertaken: 19 May 2025 (e) Has the EPT previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer? No 2. DEALINGS BY THE EXEMPT PRINCIPAL TRADER (a) Purchases and sales Class of relevant security Purchases/ sales Total number of securities Highest price per unit paid/received Lowest price per unit paid/received Ordinary Purchases 16,244 645.24p 644.86p Ordinary Sales 30,001 646p 645.46p (b) Derivatives transactions (other than option) Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit (c) Options transactions in respect of existing securities (i) Writing, selling, purchasing or varying Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit (ii) Exercising Class of relevant security Product description e.g. call option Number of securities Exercise price per unit (d) Other dealings (including subscribing for new securities) Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) The currency of all prices and other monetary amounts should be stated. Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. 3. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer: If there are no such agreements, arrangements or understandings, state 'none' None (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state 'none' None Date of disclosure: 20 May 2025 Contact name: Clare Gamble-Dale Telephone number: 0207 601 6132 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@ The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel's website at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
