12th Feb 2019 12:18
LONDON (Alliance News) - CC Japan Income & Growth Trust PLC on Tuesday said it has raised GBP7.6 million in proceeds through a share placing to grow the size of the investment company.
Shares in the investment trust were broadly flat at 142.04 pence each on Tuesday.
CC Japan issued 5.5 million shares at a price of 138.3p per share.
On Monday last week, the company said it believes that a further increase in its size would continue to improve liquidity and enhance the marketability, resulting in a broader investor base. This should enable the company to grow further, thereby spreading ?xed costs over a larger capital base and reducing ongoing charges per share.
Peel Hunt LLP acted as broker and bookrunner to CC Japan for the placing.
Following the placing, CC Japan Income & Growth Trust will have 134.7 million shares issued overall.
Related Shares:
CC Japan Income