Ignis manager Clark sees value in IPOs

Small-cap IPOs have been very competitively valued according to the Ignis Smaller Companies fund manager

Ignis’ small-cap manager David Clark has made recent moves into the IPO market because of attractive launch pricing. Compared to recent large-cap flotations, small-cap IPOs have been very competitively valued, the £86m Ignis Smaller Companies fund manager says. He has introduced 1% positions in Super Group and CSF Group and is expecting to have an allocation in Metric Property Investments’ IPO. He has also taken part in the refinancing of Xcite Energy. Recent disposals include Care UK, which he sold after the stock rose 50% in nine months. “IPO pricing has been much more realist...