Invesco Global Equity Income Trust Raises Funds to Meet Demand
Why we think this is good
The equity raise by Invesco Global Equity Income Trust is a positive development, as the small size and minimal discount of the placement suggest strong investor demand for the company's shares. The raise is not being used for distressed financing, which is a further positive sign. While any equity raise can have a dilutive effect on existing shareholders, the impact here is relatively minor given the small size of the placement. Overall, the details of the raise indicate a healthy financial position and ongoing investor confidence in the company.
Key Points
- Invesco Global Equity Income Trust plc has issued 150,000 new ordinary shares
- The new shares were sold at a price of 333.80p per share, a 0.06% discount to the previous closing price of 334.00p
- The total number of shares in issue (excluding treasury shares) is now 62,039,182
- The purpose of the raise is to satisfy ongoing demand for the company's shares
Summary
Invesco Global Equity Income Trust plc has announced the sale of 150,000 ordinary shares from treasury at a price of 333.80p per share, representing a discount of only 0.06% to the previous closing price of 334.00p. The total number of shares in issue (excluding treasury shares) is now 62,039,182. The purpose of the raise is to satisfy ongoing demand for the company's shares.