10th Jun 2019 08:28
LONDON (Alliance News) - HgCapital Trust PLC on Monday said it intends to raise GBP80 million through a share placing to invest in "attractive" opportunities.
The FTSE 250-listed company said its partners and staff intend to invest at least GBP10 million either through the placing or, if this is fully subscribed, through purchases of shares on the market.
HgCapital said it will issue 37.3 million shares at a price of 217.1 pence each, representing a premium of 1.1% to net asset value as at May 31. The issue premium has been set at a level to cover the costs associated with the placing, the company explained.
The stock was trading down 0.9% on Monday morning at 215.00p a share, giving it a market capitalisation of GBP802.5 million.
Numis Securities Ltd is acting as corporate broker in respect of the placing.
The investment company said its current level of liquid resources available for investments is GBP97 million, which represents 12% of the NAV as at May 31.
Related Shares:
HgCapital Trust plc