StockMarketWire.com - Investment company HG Capital Trust said it would invest about £17.1m in Visma.

The transaction valued HGT's existing investments in Visma at £268.8m, and represented an uplift of £69.1m, or 35% over the carrying value of £199.7m in the net asset value of HGT at 31 March 2020.

Based on the 31 March 2020 reported NAV, following completion of this transaction, the pro-forma NAV of the trust was expected to be £1.077bn, or 263.6 pence per share.

HGT's liquid resources available for future deployment were estimated to be £335m, or 31% of the pro-forma 31 March 2020 NAV).

'The investment will reduce HGT's outstanding commitments to invest in Hg transactions to approximately £850m,' the company said.

The company invested alongside other institional inevstors. The investment valued Visma at an enterprise value of NOK 110bn, or US$12.2bn.

As part of the transaction, Hg's Genesis 7 Fund would reduce its holding in Visma.

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