17th Feb 2016 08:52
LONDON (Alliance News) - Miton UK MicroCap Trust PLC on Wednesday said it has raised gross proceeds of around GBP28.0 million through a C share placing.
The company has issued a total of 56.0 million C shares at 50.00 pence apiece to raise the funds. Shares in the trust were untraded in London early Wednesday, having last traded at 53.29p.
"We believe we are at a multi-decade turning point where the advantages of the vibrancy of the smallest quoted stocks is yet to be recognised. With world growth stalling there is now increasing interest in a universe of companies that has greater potential to sustain ongoing growth, especially if they come with the prospect of attractive dividends in the coming three to five years," said fund manager Gervais Williams.
"Against the backdrop of difficult market conditions, it is very encouraging to receive such a warm reception from investors," he added.
Peel Hunt was the sold sponsor, broker, placing agent and intermediaries offer agent on the issue.
By Sam Unsted; [email protected]; @SamUAtAlliance
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