Ashoka India Equity Investment Trust Announces Issue of New Shares
Why we think this is good
The equity raise is being conducted at a slight premium to the previous closing price, which is generally a positive sign. The dilution impact is relatively small, minimizing the impact on existing shareholders. There are no significant negative factors identified in the announcement.
Key Points
- Issue of 500,000 new ordinary shares
- Shares issued at 270.40 pence, a 0.36% premium to previous close
- Dilution of around 0.3% of existing issued share capital
Summary
The investment trust has issued 500,000 new ordinary shares at a premium to the previous closing price, a positive sign for investors.
Ashoka India Equity Investment Trust plc has issued 500,000 new ordinary shares at a price of 270.40 pence per share, a premium of 0.36% to the previous closing price. The new shares represent a dilution of only around 0.3% of the company's existing issued share capital. The purpose of the raise is likely for general corporate purposes and growth capital, rather than to address any immediate funding needs.
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