- Investment management company CIP Merchant Capital said it sold its stake in Circassia, a biopharmaceutical company, for about £3.9m.

The sale price resulted in a net profit of £1.1m for the company.

Circassia constituted the company's first exited investment, which corresponded to a 1.4 times cash on cash return and represents an IRR of 72% following the company's investment in Circassia announced on 10 January 2020.

At 9:54am: [LON:CIP] Cip Merchant Capital Limited Ord Npv share price was +2p at 49p

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