A listed investor in THG and NCC Group is to raise funds for new investment opportunities.
Kelso, listed on the main market of the London Stock Exchange, holds stakes in publicly traded companies and has previously raised four tranches of investment.
It intends to raise fresh funds equal to 5% of its issued share capital at a placing price of 3 pence per share, equivalent to £650,000.
It previously raised £3 million in January 2023 at a price of 2p per share, £3m in June 2023 (at 2.5p), £1.9m in February 2024 (at 3p) and £2.05m in December 2025 (at 3p).
“It is the board’s intention to use the proceeds from the fundraising to expand Kelso’s current investment portfolio into identified opportunities which the board believes will improve the balance of risk versus reward,” it stated this morning.
Kelso, led by CEO John Goold (pictured), is backed by over 75 investors alongside a small number of institutions. Its board has more than 150 years of experience in UK listed companies across fund management, private equity, corporate finance, law and M&A advisory.
Kelso’s strategy is to hold a concentrated portfolio of fewer than 10 UK-listed companies, each of which it considers to be among the most attractive opportunities in the UK small and mid-cap market.
Since the company announced its FY25 results on 30th April 2026, Kelso has seen further growth in its investments, resulting in its estimated NAV per share increasing to c.2.7 pence per share, as of close of business 11th May 2026, an increase of over 17% during 2026.
As of 11th May 2026, the estimated unrealised profit before tax in the business is c.£2.3m, an increase of c.£1.5m since the start of January 2026.
The firm has posted the share price movement of its portfolio since 31st December 2025 – or cost price if an addition in 2026.
In order of portfolio weight, NCC Group plc has fallen 1%, Saga plc is up 53%, CVS Group plc has dropped 13%, TheWorks.co.uk plc has climbed 32%, Filtronic plc has rocketed 113%, Selkirk Group plc is up 5%, THG plc has plummeted 32% and Angling Direct plc has fallen 7%.
