CVC Income & Growth Limited Resells Shares from Treasury
Why we think this is good
The equity raise is priced at a 9.7% premium to the previous closing price, which is generally a positive sign indicating demand for the company's shares. The relatively small size of the raise means the dilution impact on existing shareholders is limited. While the need to issue additional shares to meet demand could imply the company's current share price is undervalued, the premium pricing and limited dilution impact are the key positive factors.
Key Points
- Resale of 500,000 Sterling shares from treasury
- Shares sold at £1.1851, a 9.7% premium to previous close of £1.0800
- Total voting rights in the company will be 247,948,692
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 9.7% premium to the previous closing price of £1.0800. The total number of voting rights in the company will be 247,948,692. The purpose of the raise is to meet ongoing demand for the company's shares.