Fair Oaks Income Fund Sets Price For Issuing New Shares (ALLISS)

16th Mar 2018 17:34

LONDON (Alliance News) - Fair Oaks Income Ltd said Friday that it has decided to issue new shares at 97.3 US cents per share, a 1.5% premium to the company's published net asset value.

On Wednesday, the investment fund said it intends to potentially issue 22.5 million new shares following receipt of an investment commitment from an investor. The issue of the new shares is conditional on approval at an extraordinary general meeting, to be held on March 29.

The proceeds for the share issue would be used to fund a new primary investment opportunity of USD35.0 million in a collateralised loan obligation equity security.

Fair Oaks shares closed at 98 cents on Friday, down 0.5%.

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