Invesco Global Equity Income Trust plc Issues Equity
Why we think this is very good
The equity raise by Invesco Global Equity Income Trust plc is a very positive development. The company is issuing new shares at a 1% premium to the previous closing price, indicating strong investor demand for the stock. The raise amount is relatively small, representing only 0.14% dilution, and the purpose appears to be for general corporate purposes rather than a specific growth initiative or debt repayment. Overall, this is a well-executed, non-dilutive equity raise that should be viewed positively by the market.
Key Points
- Invesco Global Equity Income Trust plc has issued 90,000 new ordinary shares
- The new shares were issued at a price of 354.50p, representing a 1.00% premium to the previous closing price of 351.00p
- The raise amount is equivalent to only 0.14% of the company's total issued share capital
- The purpose of the raise is likely for general corporate purposes and to satisfy ongoing investor demand
Summary
Invesco Global Equity Income Trust plc has announced the issue of 90,000 new ordinary shares at a price of 354.50p per share, representing a 1.00% premium to the previous closing price of 351.00p. The raise amount is relatively small, equivalent to only 0.14% of the company's total issued share capital. The purpose of the raise is not explicitly stated, but it is likely for general corporate purposes and to satisfy ongoing investor demand. This well-executed, non-dilutive equity raise should be viewed positively by the market.