CT Global Managed Portfolio Trust PLC Announces Equity Raise
Why we think this is neutral
The equity raise announced by CT Global Managed Portfolio Trust PLC appears to be a relatively minor event that is unlikely to have a significant negative impact on the company or its share price. The small size of the raise, at only 400,000 shares, and the very small discount of 0.23% to the previous closing price, suggest the market will view this positively. However, the lack of specificity around the purpose of the raise is a slight concern, as it makes it difficult to assess the strategic rationale and potential benefits to shareholders.
Key Points
- CT Global Managed Portfolio Trust PLC has announced the issue of 400,000 new Income shares
- The new shares were issued at a price of 105.00p per share, representing a 0.23% discount to the previous closing price
- The raise is being conducted under the company's general business purposes blocklisting facility
- Following the transaction, the company will have the ability to issue a further 3,074,510 Income shares and 1,304,550 Growth shares under its blocklisting facilities
Summary
CT Global Managed Portfolio Trust PLC has announced the issue of 400,000 new Income shares at a price of 105.00p per share, representing a 0.23% discount to the previous closing price of 105.23999786376953p. The raise is being conducted under the company's general business purposes blocklisting facility. Following the transaction, the company will have the ability to issue a further 3,074,510 Income shares and 1,304,550 Growth shares under its blocklisting facilities.