JPMorgan Global Growth & Income Plc Issues Shares from Treasury
Why we think this is good
The equity raise announced by JPMorgan Global Growth & Income Plc is a relatively small and routine transaction, with a minimal discount to the previous closing price. This suggests strong investor demand for the company's shares and that the raise is not a last resort funding measure. The limited size of the raise and the company's policy of only re-issuing treasury shares at a premium to net asset value are positive signs.
Key Points
- JPMorgan Global Growth & Income Plc has issued 50,000 new Ordinary Shares from treasury
- The new shares were issued at a price of 515.50 pence per share, a 0.15% discount to the previous closing price
- The raise amount is small, representing only 0.01% of the company's total issued share capital
- The company will only re-issue treasury shares at a premium to net asset value
Summary
JPMorgan Global Growth & Income Plc has announced the issue of 50,000 Ordinary Shares from treasury at a price of 515.50 pence per share, representing a 0.15% discount to the previous closing price of 516.2623901367188 pence. The raise amount is relatively small, at only 0.01% of the company's total issued share capital of 515,968,903 shares. The company states it will only re-issue shares held in Treasury at a premium to net asset value, which is a positive sign.