24th Jul 2019 15:18
(Alliance News) - RM Secured Direct Lending PLC on Wednesday said it plans to raise funds through a possible share issue at a premium to net asset value.
In July, the secured debt investor said it has a "strong pipeline", which its investment manager believes will "continue to originate and close high quality investments". The company had also said at that time it used its revolving credit facility.
As at June 30, the investor's net asset value per share including income was 98.00 pence per share, down from 99.59 pence on May 31.
RM Secured said: "It is intended that the proceeds of the proposed fundraise will enable the investment manager to further capitalise on the opportunities in its pipeline.
"Further details of any proposed fundraising, which will be subject to prevailing market conditions, will be announced in due course."
Shares in RM Secured were down 1.5% at 100.03 pence on Wednesday afternoon.