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IP firms' shares plummet

IP firms' shares plummet


Three ASX-listed IP firms have witnessed their share prices rapidly decline in the second half of 2016.

IPH Limited (IPH), Xenith IP Group Limited (Xenith) and Qantm Intellectual Property Limited (Qantm) have all seen their shares drop substantially over the past six months.

Kicking off the year with a share price of $9.01 and peaking at $9.43 in February, IPH has had a volatile year.

The intellectual property, patents and trade marks firm has seen its share price drop more than 40 per cent over 52 weeks, sitting at $4.91 as of 15 December 2016.

Debuting on the ASX in November 2014, IPH Limited set out to expand its presence by buying existing IP practices, being the only ASX-listed IP firm at the time.

“Going forward we believe that opportunities exist for the group to continue to acquire and develop intellectual property businesses, not only in Australia but more importantly in Asia and beyond, where we believe the greatest long-term growth opportunities lie,” said chairman Richard Grellman in November 2015, a year after the official listing.

Xenith, which comprises Shelston IP and Shelston IP Lawyers, commenced trading on the ASX in November 2015, with an opening share price of $3.24.

The firm’s share price peaked in mid-May this year at $4.32, before dropping just over 40 per cent to $2.57 as of 15 December 2016.

This latest share price update came after Xenith managing director Stuart Smith announced the company had recorded pro forma revenue of $32.3 million during FY2015-16, up 19 per cent on its $27 million in FY2014-15 and up 8 per cent on its prospectus.

“This is a very pleasing result and a reflection of the sustained efforts undertaken by Xenith’s highly experienced staff and management team since the group’s ASX listing in November 2015,” Mr Smith said at the time.

“It is particularly pleasing to report that the group exceeded its prospectus forecasts for revenue and EBITDA by 8 per cent and 23 per cent respectively.

“The company has achieved a great deal since listing on the ASX less than a year ago and is well-placed to build on its market position in [FY2016-17].”

Qantm, the newest player to the game, announced its ASX listing on 31 August 2016.

The holding company of Davies Collison Cave and FPA Patent Attorneys (formerly Freehills Patent Attorneys) opened with a share price of $2.22. Just two hours after trading commenced, Qantm shares were priced at $2.49.

However, it appears Qantm shares have dropped off since then, recording a low of $2.06 on 6 December. An update has confirmed Qantm shares are slightly picking up again, valued at $2.21 as of 15 December.

Lawyers Weekly reached out to IPH, Xenith and Qantm on their share prices, however they were unable to provide comment by the time this article was published.

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