Invesco Bond Income Plus Limited Issues New Shares to Meet Investor Demand
Why we think this is good
The equity raise by Invesco Bond Income Plus Limited is a positive development, as it is a relatively small raise at a minimal discount to the previous closing price. This suggests strong investor demand for the company's shares and indicates the raise is not driven by urgent funding needs. The purpose is to provide additional liquidity, which is a constructive step for the investment trust.
Key Points
- Issue of 350,000 new ordinary shares
- Raise price of 169.50p per share, a 0.29% discount to previous close of 170p
- Purpose is to satisfy secondary market demand
Summary
Invesco Bond Income Plus Limited has announced the issue of 350,000 new ordinary shares at a price of 169.50p per share, representing a 0.29% discount to the previous closing price of 170p. The purpose of the raise is to satisfy secondary market demand and is made under the company's existing annual authority for such allotments. This suggests the raise is not driven by urgent funding needs but rather to provide additional liquidity for the investment trust's shares.