8th Nov 2019 14:49
(Alliance News) - AVI Japan Opportunity Trust PLC said Friday it raised GBP14 million through a premium priced share placing to an existing shareholder in order to fund further investments.
Under the placing, existing shareholder Finda Oy was issued 13.1 million shares at 107.08 pence per share. The placing price was equivalent to a 2% premium to the most recent net asset value per share of the firm.
Shares in AVI Japan were 0.4% lower at 105.62 pence in London on Friday.
AVI Japan said the funds raised "will be used to make further investments in accordance with the company's investment policy.
After admission of the shares - expected Monday - AVI Japan will have 111.8 million shares outstanding in the firm.
By Ahren Lester; [email protected]
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