Invesco Global Equity Income Trust plc Issues Equity at Premium
Why we think this is very good
The equity raise by Invesco Global Equity Income Trust plc is a very positive development. The company has been able to issue new shares at a 0.37% premium to the previous closing price, indicating strong investor demand for the stock. The small size of the raise, representing only 0.027% of the shares outstanding, suggests the company is not facing significant funding pressures and can access capital markets on favorable terms. This premium pricing and the lack of any negative factors in the RNS are all very good signs for the company's financial health and growth prospects.
Key Points
- Invesco Global Equity Income Trust plc has issued 60,000 new ordinary shares from treasury
- The new shares were placed at a price of 350.30p, representing a 0.37% premium to the previous closing price of 349p
- The raise of £210,180 is equivalent to only 0.027% of the company's £219.58 million market capitalization
Summary
Invesco Global Equity Income Trust plc has announced the sale of 60,000 ordinary shares from treasury at a price of 350.30p per share, representing a 0.37% premium to the previous closing price of 349p. This small raise of £210,180 is equivalent to only 0.027% of the company's £219.58 million market capitalization. The positive pricing and size of the raise indicate the company is not facing significant funding pressures and can access capital markets on favorable terms to support its growth initiatives.