25th May 2018 10:08
LONDON (Alliance News) - NB Private Equity Partners Ltd on Friday said it raised GBP50.0 million through the issue of zero dividend preference shares to get funds for new investments.
The investment company said it issued 50.0 million zero dividend preference shares dated 2024 with a gross redemption yield of 4.25% at a price of 100.00p each.
NB Private Equity ordinary shares were trading up 0.6% at 989.60 pence on Friday. The company's 2022 zero dividend preference shares were untraded at 113.50 pence per share.
Money raised will go towards new investments and will provide NB Private Equity Partners with further "attractive diversification" in its finance structure.
"We are delighted that this oversubscribed issue has received such strong support from investors," said Chairman Talmai Morgan. "NB Private Equity Partners remains well positioned to take advantage of the investment opportunities it is currently seeing in the market and deliver attractive returns to all its shareholders over the medium and longer term."
Related Shares:
Nb Priv. Eqty