28th Apr 2015 16:21
LONDON (Alliance News) - Miton UK MicroCap Trust PLC said Tuesday it has raised GBP50 million through a placing of 100 million shares at 50 pence each, ahead of its admission to the premium segment of the London Stock Exchange's main market.
The trust is expected to be admitted to trading Thursday. It plans to invest in a portfolio of UK-based microcap companies, comprising companies with a market capitalisation of GBP150 million or less at the time of investment.
"Many microcap companies sustain growth in their turnover and cash generation even when world growth is subdued. Therefore, now is a great time to set up a microcap fund that can take advantage of this environment where many AIM stocks are delivering strong earnings growth," said Fund Manager at Miton Group PLC Gervais Williams in a statement.
Peel Hunt is acting as sponsor, broker, placing agent and intermediaries offer adviser to the company.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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