14th May 2020 17:55
(Alliance News) - EJF Investments Ltd on Thursday said that it intends to raise GBP6.0 million through the issue of new ZDP shares to fund a a target investment created through the current market "dislocation".
The investment company said the undisclosed target investment is expected to produce an attractive return and be accretive to the company's net asset value.
The company plans to issue new ZDP shares with a proposed gross redemption yield of 5.75% and a maturity of five years.
Ordinary shares in EJF Investments closed flat at 120.00 pence each in London on Thursday. The ZDP stock ended at 116.00p, up 2.2%.
By Tapan Panchal; [email protected]
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