JPMorgan Global Growth & Income PLC Issues Shares from Treasury
Why we think this is good
The equity raise by JPMorgan Global Growth & Income PLC appears to be a routine, non-dilutive transaction conducted at a very small discount to the current market price. This suggests strong investor demand for the company's shares and prudent capital management by the investment trust.
Key Points
- JPMorgan Global Growth & Income PLC has issued 100,000 new Ordinary Shares from treasury
- The new shares were issued at a price of 511.20 pence per share, a 0.04% discount to the previous closing price of 511 pence
- The raise amount is relatively small, equivalent to 0.019% of the company's total issued share capital
- The company's policy is to only re-issue shares held in treasury at a premium to net asset value
Summary
JPMorgan Global Growth & Income PLC has announced the issue of 100,000 new Ordinary Shares from treasury at a price of 511.20 pence per share, representing a 0.04% discount to the previous closing price of 511 pence. The raise amount is relatively small, equivalent to only 0.019% of the company's total issued share capital. The purpose of the raise is not explicitly stated, but the company's policy of only re-issuing shares from treasury at a premium to net asset value is a positive sign of prudent capital management.