Daily Archives: October 4, 2019

Brexit uncertainty helping major UK-listed royalty finance firm secure £20m from investors

Duke Royalty, which provides royalty finance to companies in the UK and Europe, told Yahoo Finance UK it has secured £16.1m ($19.52m) from new and existing institutional investors and is aiming to raise another £3.9m when it opens a retail offer later today.

A new wave of lending

Duke has just announced a fund-raising of up to £20m, of which £16.1m has already been placed in an institutional offering at 44p per share. This will allow it to invest another £45m in the next 12 months. We estimate a sustainable ROE of 14% for Duke and we see the current fair value range at 50–58p per share.