CT Global Managed Portfolio Trust PLC Announces Equity Raise
Why we think this is good
The equity raise by CT Global Managed Portfolio Trust PLC is a relatively small and non-dilutive event that is being supported by the market at close to the current share price. This suggests positive sentiment towards the company's prospects, although the lack of specificity around the use of proceeds is a minor concern.
Key Points
- CT Global Managed Portfolio Trust PLC has announced the issuance of 85,000 new Income shares
- The new shares were placed at a price of 106.75p, representing a 0.047% discount to the previous closing price
- The purpose of the raise is stated as 'for the Company's general business purposes'
Summary
CT Global Managed Portfolio Trust PLC has announced the issuance of 85,000 new Income shares, representing a 0.16% increase in the company's total issued share capital. The new shares were placed at a price of 106.75p, which is only a 0.047% discount to the previous closing price of 106.69999694824219p. The purpose of the raise is stated as 'for the Company's general business purposes', which lacks specificity. However, the small size of the raise and the minimal discount suggest the market has confidence in the company's prospects and is willing to support the issuance.