21st Apr 2015 08:22
LONDON (Alliance News) - Shares in Woodford Patient Capital Trust PLC were trading higher after debuting on the London Main Market on Tuesday.
The trust raised GBP800 million in its initial public offering which, according to trade body the Association of Investment Companies, is the largest ever launch for a UK investment company.
The trust has been launched by Neil Woodford, the renowned former Invesco Perpetual fund manger who left the company to create his own fund house in 2014.
The trust issued 800 million shares at 100 pence per share and its shares were trading up 2.5% to 102.45 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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