Chapmans is wagering that clean energy is a better deal than fantasy sports, swapping investments in one for the other.

The listed investor sold its stake in Fantasy Sports Global — just as the season for fantasy teams gets underway — and lifted its stake in cleantec Syn Dynamics Australia.

Chapmans (ASX:CHP) bought its 9.76 per cent in Fantasy for $5 million in 2016, and said it sold for $500,000 in cash and 16 per cent of Syn Dynamics.

It’s unclear whether Chapmans has made money on the deal.

If the deal allowed it to break even on its initial Fantasy sports investment the 16 per cent stake in Syn Dynamics would have to be worth $4.5 million, valuing the pre-revenue business at a whopping $28 million.

Chapmans itself is only worth $12 million. The company has been contacted for comment.

In a later update to the market, Chapmans said that its partly-owned subsidiary Chapmans Opportunities Limited (COL) had owned the 64 per cent shareholding in Syn Dynamics, and they had taken that stake in lieu of a $1.7 million debt owed by COL.

The company now directly owns 80 per cent of Syn Dynamics.

 

Shares in Chapmans were flat at 1.3c at midday on Monday.

Chapmans shares over the last six months.