5th Dec 2018 10:50
LONDON (Alliance News) - GCP Asset Backed Income Fund Ltd on Wednesday said it is planning to raise over GBP10.0 million via a placing of shares at 104.5 pence each.
Shares in the company, which invests in asset-backed loans, were trading down 1.4% at 105.00p on Wednesday morning.
The number of shares to be issued has not being defined, but to meet its GBP10.0 million target the firm will have to issue at least 9.6 million shares.
Trading of the new shares is expected to start on December 13, with the placing closing on December 10.
Cenkos Securities PLC is acting as the company's sole placing agent in relation to the placing.
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Gcp Asset Bckd