Crystal Amber Fund mulling secondary issue of shares after strong year
Crystal Amber Fund, the AIM-listed, activist fund, has reported that preliminary discussions have been initiated with some of its major shareholders regarding the potential to finance further investment opportunities through a secondary issue of shares.
Crystal Amber Fund, the AIM-listed, activist fund, has reported that preliminary discussions have been initiated with some of its major shareholders regarding the potential to finance further investment opportunities through a secondary issue of shares.
The board said that by increasing the size of the fund, it would be able to acquire larger holdings to potentially increase its influence and invest in a wider portfolio of companies while also providing greater liquidity for shareholders.
The fund, which is registered in Guernsey, takes stakes in undervalued companies and then takes action to enhance their value.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Over the 2012 calendar year, the fund's net asset value (NAV) per share rose 35.3%, and a further 6.8%, over the three months to March 31st 2013.
Crystal Amber's share price was up 1.72% to 118p at 10:02 on Tuesday.
MF
-
Private school fees soar and VAT threat looms – what does it mean for you?
Rising private school fees could see more than one in five parents pull their children out of their current school. Before you remortgage, move house or look to grandparents for help, here’s what you need to know.
By Katie Williams Published
-
Best and worst UK banks for online banking revealed
When it comes to keeping your money safe, not all banks are equal. We reveal the best and worst banks for online banking when it comes to protecting your money from scams
By Oojal Dhanjal Published