JPMorgan Global Growth & Income PLC Issues Shares from Treasury
Why we think this is good
The equity raise by JPMorgan Global Growth & Income PLC is a relatively small and non-dilutive transaction, with the new shares being issued at a minimal 0.20% discount to the previous closing price. This suggests strong investor demand for the company's shares and does not indicate any major funding concerns or distress. The purpose of the raise is not explicitly stated, but the use of treasury shares helps avoid dilution for existing shareholders. Overall, the details of the raise point to a routine corporate action rather than a significant funding event.
Key Points
- JPMorgan Global Growth & Income PLC issues 50,000 new shares from treasury
- New shares issued at 511.70 pence, a 0.20% discount to the previous closing price of 512.72 pence
- Total issued share capital now stands at 516,268,903 Ordinary Shares, with 308,405 shares held in Treasury
Summary
JPMorgan Global Growth & Income PLC has announced the issue of 50,000 Ordinary Shares from treasury at a price of 511.70 pence per share, representing a 0.20% discount to the previous closing price of 512.72 pence. The total issued share capital of the company now stands at 516,268,903 Ordinary Shares, with 308,405 shares held in Treasury. The company states it will only re-issue shares held in Treasury at a premium to net asset value.