1st May 2015 08:46
LONDON (Alliance News) - Shares in Ranger Direct Lending Fund PLC were up 3.5% at 1,035 pence Friday morning as they started trading on the London Stock Exchange's Main Market.
The fund got valid acceptances for up to 13.5 million shares in its initial public offering based on an issue price of 1,000p per share, giving it a market capitalisation of GBP135 million.
The fund is being set up to acquire a portfolio of debt obligations, including loans, invoice receivables and asset financing arrangements originated or issued by businesses which are not traditional retail or investment banks.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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