Does anyone have a feel for how high 3i could go, or any information that might help my research?

From the Blue Index Blog

Treble Relief
May 8th, 2009

Having been involved at various levels with business incubators and fledgling firms, I am a fan of companies like 3i (III) because they invest in the future of business. This is often a fraught and time consuming process, but get it right and occasionally it can be compared to stumbling across the holy grail

So the recent well-documented crisis at 3i has been a source of concern, particularly after well respected CEO Philip Yea left last November. But 3i has weathered the crisis better than some, and into an improving market the private equity firm this morning announced a fully underwritten GBP700m rights issues to reduce debt. The group also reported losses of GBP1.95bn from a gain of GBP828m last year, along with a 54% decline in full-year net asset value per share and total net debt of GBP1.1bn. Total assets under management also fell to GBP8.02bn from GBP9.79bn last time. CEO Michael Queen said the rights issue will strengthen not only our balance sheet but also our market position, and looking forward he added while the operating environment remains very challenging, I have great confidence in 3is intrinsic strengths. The new shares will be priced at 135 pence, a 60% discount to Thursdays close! and a 40% discount to the theoretical ex-rights price.

Full transcript here
http://blog.blueindex.co.uk/2009/05/treble-relief/

From today's Telegraph online Market Report:
By Ben Harrington
Last Updated: 9:15PM BST 14 May 2009

A push from Oriel Securities helped private equity group 3i move 12 higher to 375p. Analyst Ian Scouller upgraded the shares to a buy as he believes the markets concerns about 3i have been addressed.

Mr Scouller also pointed out that 3i is in a similar position to where it was in 2003. Back then, the shares quickly re-rated to trade at a 20pc to 30pc premium to historic Net Asset Value (NAV).

Whilst we do not expect such a dramatic re-rating this time, we do think it is reasonable to argue 3i should trade at closer to historic NAV, given a likely increase in the value of the portfolio since the March valuation, said Mr Scouller.

The analyst gave the company a 425p price target for the next six months.

A huge fall in sp today as 11m shares are being listed - but don't worry, the way I read it these shares are for Directors, two of whom have just sold a wad each ( abt 400k's worth each).

I don't hold this . . . . (always above my perceived "value"), yet now it looks set to fall on "dilution" . . . . and I really get worried when my MP - - - -Sorry Directors shovel themselves shares - this is like writing to shareholders and replacing their certificate with one of 10% lower number . . .. nice huh?

Does anyone like this 3i - treatment?

3I Group risen above resistance at 280p and then just look at that gap that needs filling all the way up to 400p and chart would indicate lack of volume on the supply side. Could be a dynamic move upwards here given right market conditions.

"

I'm in here looks cheap compared to the banks..!

mitzy iii's is not a bank why not compare it with say cadbury's?

I thought it was under financials.

Strange stock mitzy.

Still think it will perform on a better day.

I'm hoping that too gf.

sp moving up nicely.

Comment fron Oriel Secs:
"The NAV of 294p at 30.09.11 was just behind our expectations of 300p to 310p And this results in a total return of negative 15.6% over the half year. The figures are in the middle of the market range of 281p to 310p. Earnings multiples were a key factor in the NAV fall and totalled a decline of £182m, which compared with our estimate of negative £300m.
The portfolio valuation of companies on an earnings basis declined by �52m, which was worse than our expectation of a gain of +�50m. The proportion of investments that were valued on a forecast accounts basis rose to 23% of the portfolio and we think this is an indication of the level of companies that are expected to see declines in earnings going forward. Realisations and imminent sale gains are weaker than in the same period last year at +�37m and this compared with +�96m in the same period a year ago.
Provisions and impairments totalled negative �109m in the first half, which was above our estimate of negative �80m. This was an improvement on the prior 6 month period of �151m which included a significant impairment on the valuation of Enterprise Group.
New investment totalled �448m over the 6 months (2010: �327m), although 3i do not break-down the investment levels into buyouts and growth capital. Realisations totalled �532m, which was well ahead of the �293m generated in the same period a year ago.
As expected, the results highlight the proposed increase in the dividend which was indicated at the pre-close stage. The full year dividend will be increased to 8.1p per year with effect from this year to March 2012 and this is more than doubling from the 3.6p that was paid in the year to March 2011.

RNS dividend increased from 3.6p to 8.1p

3i looks like a good long trade for next week.

Ex divi wed 11th Dec - 2.7p interim + 4p special.

StockMarketWire.com 14th May 2014.
3i Group met or exceeded all of its strategic priorities and targets for the year to the end of March.

The group reports a strong total shareholder return of 30% and a good flow of private equity realisations with proceeds of £669m, representing a 43% uplift over opening value.

The total return was £478m (2013:£373m) was after accounting for a foreign exchange translation loss of £116m.

The group confirmed a final dividend of 13.3p, bringing the total dividend for FY2014 to 20.0p per share, subject to shareholder approval.

Chief executive Simon Borrows said: "We have met or exceeded all of our strategic priorities and targets for the year. "3i is now a more streamlined, decisive organisation focused on high performance and delivering attractive shareholder returns. We have started the new financial year with good momentum in our private equity portfolio and ambitious plans in our three businesses."

Ex-divi wed 18th June 2014 (13.3p).

3i Group plc - Q3 performance update

3i Group plc today issues its performance update for the three-month period from 1 October 2014 to 31 December 2014 (the "period" or the "quarter"). Financial information is unaudited and is presented on 3i's Investment basis in order to provide users with the most appropriate description of the drivers of 3i's performance. Net asset value ("NAV") and Total return are the same on the Investment basis and on an IFRS basis. Details of the differences between 3i's consolidated financial statements prepared on an IFRS basis and under the Investment basis are provided in the 2014 Annual Report and Accounts. There have been no material changes to the financial position of 3i from the end of this period to the date of this announcement.

Highlights for the quarter ended 31 December 2014:
§ Received £245 million of Private Equity realisation proceeds, bringing total realisations across the Group for the nine months to 31 December 2014 to £569 million;

§ Invested £275 million in Private Equity on behalf of 3i and funds, £200 million of which was proprietary capital, including two significant new investments;

§ Strong value creation from the portfolio, supported by earnings growth of 15% in the Private Equity portfolio and £39 million of value growth from an increase in 3i Infrastructure plc's share price;

§ Significant growth in Debt Management AUM with the closing of Jamestown V US CLO, Harvest X European CLO and the first close of the European Middle Market Loan Fund adding £803 million of new AUM;

§ Diluted NAV per share increased by 5% to 375 pence as at 31 December 2014, before payment of interim FY2015 dividend of 6.0 pence per share on 7 January 2015.

Simon Borrows, 3i's Chief Executive said:
"The final quarter of 2014 was busy for 3i and all three of the Group's businesses continued to perform well. We made two significant new Private Equity investments, completed a number of exits and refinancings and continued to support good growth in the portfolio. Our Debt Management team closed a new CLO in each of Europe and the US and also secured a first close of the European Middle Market Loan Fund, continuing its strong fund raising track record this year. The Infrastructure team advised on two new PPP investments in the period, the sale of Eversholt Rail Group and is pursuing a number of new Core investment opportunities.

The wider European economic and political environment continues to be a concern, but our portfolio remains well positioned and continues to perform strongly overall. Pricing in Europe in particular remains very full and, although keen to invest, we remain cautious and will continue to be an active seller of investments while this environment persists."

StockMarketWire.com
3i Group reported NAV increased 15% to 199.0 pence per share for the fiscal third quarter and expects to deliver its target dividend of 7.85 pence per share for the full year 2018.

The company said the portfolio overall continued to perform broadly in line with expectations as total portfolio income and non-income cash reached £43.4 million in the period.

3i reported two divestments during the period generated an estimated gross proceeds of £1,120m, which included the sale of both the company's stake in Elenia for estimated gross proceeds of £725m and the company's stake in Anglian Water Group for estimated gross proceeds of £395m.

'The outcomes achieved on the two sale processes have delivered outstanding returns,' said Phil White, Managing Partner and Head of Infrastructure, 3i Investments plc, Investment Adviser to the Company.

Three investments were also announced during the period: £187 million to acquire a majority position in Wireless Infrastructure Group, £21 million in ESVAGT to provide funding for growth in the offshore wind service business, while £12 million was invested in Infinis to fund organic growth.

Richard Laing, Chairman of 3i Infrastructure, said: 'The Board is delighted with the performance of the Company over the period.'

'The realisations achieved by the Investment Adviser have generated exceptional value for shareholders.'

'The additional investment in WIG is further demonstration of the investment opportunity within the portfolio. We continue to develop our pipeline across the Company's target markets and we see good prospects for future investments in the coming months.'

StockMarketWire.com
3i Group said Thursday total returned increased 10% in the first half of the year driven by 'good' performance from larger private equity investments.

For the six months to 30 September, total return rose 10% of £728m and net asset value per share of rose 7.2% to 776p from 724p seen at the March end.

The private equity portfolio produced a gross investment return of £667m, or 11%, driven by growth across larger investments, the company said.

Two new private equity investments were completed in the first half, totalling £245m, in Royal Sanders and International Cruise and Excursions.

Operating profit before tax rose 8.7% to £713m.

The interim dividend of 15.0p was in line with the company's new dividend policy announced in May.

The company said it would continue to focus on delivering mid-to-high-teens returns for shareholders through the cycle.

'This was another good half for 3i. We generated a total return of 10%, completed the sale and our subsequent 35% reinvestment into Scandlines, invested in two new Private Equity portfolio companies and advised 3iN on the acquisition of three new investments,' said Simon Borrows, 3i's Chief Executive.

'We remain confident in the growth plans across our investments and will maintain our focus on active management to maximise value for our shareholders and co-investors. We have good momentum across our portfolio, but remain cautious about the pricing of new investment in general and are focusing our origination efforts particularly on bilateral processes and on our buy-and-build platforms.'

Infrastructure investor 3i Infrastructure updated the market on its third quarter on Wednesday, reporting that it continued to perform in line with expectations, and was delivering a "good" level of income. The FTSE 250 firm said total portfolio income and non-income cash was £25.9m for the three months ended 31 December. It said it was on track to deliver its target dividend of 8.65p per share for the 2019 financial year, with the full-year dividend expected to be covered with a "significant" surplus.