CVC Income & Growth Limited Raises Equity at Premium
Why we think this is good
The equity raise by CVC Income & Growth Limited is a positive development, as the shares were placed at a 9.2% premium to the previous closing price. This suggests strong investor demand for the company's stock and does not indicate any immediate funding concerns. The raise is relatively small compared to the company's market capitalization, and the dilution to existing shareholders is minimal. Overall, the equity raise appears to be a well-executed transaction that will provide the company with additional flexibility and liquidity without significantly impacting existing shareholders.
Key Points
- CVC Income & Growth Limited resold 500,000 Sterling shares from treasury at a price of £1.1851 per share
- The raise was priced at a 9.2% premium to the previous closing price of £1.0850
- The raise is a relatively small amount compared to the company's market capitalization
- The raise will provide additional liquidity and flexibility to the company without significantly diluting existing shareholders
Summary
CVC Income & Growth Limited has announced the resale of 500,000 Sterling shares from treasury at a price of £1.1851 per share, representing a 9.2% premium to the previous closing price. The purpose of the raise is to meet ongoing demand for the company's shares. The total number of voting rights in the company will be 247,363,692 following the issue. No broker targets were provided in the announcement.