30th Apr 2015 10:36
LONDON (Alliance News) - Miton UK MicroCap Trust PLC on Thursday saw its shares rise as it started trading following its GBP50 million IPO.
The trust, which will 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, saw its shares rise 2.8% to 51.4 pence, up from the 50 pence admission price.
"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 earlier this week, issued when the fund announced the pricing for the float.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Miton Uk