The Bailador Technology Investments Ltd (ASX: BTI) share price shot up this morning, climbing 12.38% to $1.18 before falling back to $1.12 at the time of writing. This came after the company released an update about its investment in Straker Translations Ltd (ASX: STG).
What did Bailador announce?
Bailador updated the market on the flow-on effect of Straker’s agreement yesterday to become a strategic translations service provider for global tech giant IBM (NYSE: IBM). The deal with IBM resulted in a significant increase in the Straker share price.
According to Bailador, the value of its investment in Straker has increased in value by 61% since its last valuation on 31 October 2020. This has boosted Bailador’s net tangible assets (NTA) by 3.2% compared to its report on 10 November 2020. At that time, Bailador had a pre-tax NTA of $1.37.
The Straker share price has increased slightly today, trading up 0.63% at $1.60, which may have a further positive effect on Bailador’s NTA.
About the Bailador share price
Bailador is an investment company that invests in the information technology sector. It has been listed on the ASX since 2014.
In FY2020, Bailador posted a loss after tax of $4.12 million, compared to a profit after tax of $17.05 million in FY2019. The company saw a 1% net decrease in the value of its portfolio of assets in FY2020.
Bailador paid a special dividend of 2.5 cents per share in February 2020.
The Bailador share price is up 132.65% from its 52-week low of 49 cents, and up 1.79% since the beginning of the year. Bailador shares have also increased 16.33% since this time last year.