4th Dec 2015 10:39
LONDON (Alliance News) - Ranger Direct Lending Fund PLC on Friday said it is seeking to raise up to GBP14.1 million through a so-called tap issue of new shares.
Range Direct Lending Fund said it will issue up to 1.3 million new shares at 1,045.0 pence each, equivalent to 9.99% of its existing shares.
The company said its estimated net asset value was USD15.31 per share on November 30, equivalent to about 1,018p, after deducting a dividend payment of 8.36p per share.
The shares are being issued through an accelerated bookbuild with new and existing investors.
"The company continues to see investment opportunities with net returns to the company in line with its 12-13% target, which is the reason for the company deciding to undertake the tap issue at this time," Ranger Direct Lending Fund said.
The tap issue does not require shareholder approval.
Shares in Ranger Direct Lending Fund were down 0.1% at 1,044.00p on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
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