1st Nov 2013 11:46
LONDON (Alliance News) - TwentyFour Income Fund Ltd Friday said it has raised GBP55 million through the issue of 50.1 million shares in a placing.
The London listed close-ended fund said the placing was significantly oversubscribed and the board has decided that in the best interest of shareholders it should increase the rise of the issue beyond the GBP30-50 million targeted.
The firm said the shares were issued at 109.8 pence per share, a 2% premium to the managers' estimate of the current net asset value and a 2.25% premium to the net asset value on October 25.
The stock was trading at 109.80 pence Friday morning, down 3.20 pence or 2.8%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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