City of London Investment Trust Sells Shares from Treasury
Why we think this is good
The equity raise by City of London Investment Trust is a relatively small transaction, with a very minor discount to the previous closing price. This suggests strong investor demand for the company's shares and does not indicate any significant funding needs or concerns. While the purpose of the raise is not explicitly stated, the small size and modest discount are positive signs for the company's financial position and outlook.
Key Points
- Sale of 135,000 ordinary shares from treasury
- Shares sold at 452.0p per share, a 0.13% discount to previous close of 452.6099853515625p
- Total issued share capital remains at 502,664,868 ordinary shares
Summary
City of London Investment Trust has announced the sale of 135,000 ordinary shares from treasury at a price of 452.0p per share, representing a 0.13% discount to the previous closing price of 452.6099853515625p. The total issued share capital will remain at 502,664,868 ordinary shares, of which 10,522,762 are held in treasury. The purpose of the sale is not explicitly stated, but the small size and modest discount indicate it is not a significant capital raise and likely reflects general corporate purposes rather than funding growth or other initiatives.