Back

JGGI

1.28%
GOOD

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 transaction, with the new shares being issued at only a 0.31% discount to the previous closing price. This suggests the market still has strong appetite for the company's shares, and the raise is likely for general corporate purposes rather than a last resort funding. The small size of the raise, along with the company's policy of only re-issuing shares at a premium to net asset value, indicates prudent capital management. Overall, the details of the equity raise are positive and do not raise significant concerns.

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 516.40 pence per share, a 0.31% discount to the previous closing price of 518 pence
  • The company will only re-issue shares held in Treasury at a premium to net asset value

Summary

The investment trust has issued a small number of new shares from treasury at a minimal discount, suggesting continued market confidence.

JPMorgan Global Growth & Income Plc has announced the issue of 50,000 new Ordinary Shares from treasury at a price of 516.40 pence per share, representing a 0.31% discount to the previous closing price of 518 pence. The raise amount is relatively small compared to the company's total issued share capital, and the company states it will only re-issue shares held in Treasury at a premium to net asset value. This suggests the equity raise is for general corporate purposes rather than a last resort funding, and the market still has strong appetite for the company's shares.

PLACING