JPMorgan American Investment Trust, which announced plans on Wednesday to raise funds through a placing, said the shares will be placed at 943p.
The placing price is a 1.3% premium to the prevailing net asset value (including income and valuing debt at fair value) of the existing ordinary shares at close on Wednesday, October 17th.
The company is issuing 1.89m new shares so at the announced placing price it is set to raise £17.83m (gross), assuming there are takers for all the shares on offer.
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
The market capitalisation of the investment trust on October 18th was around £458m.
JH
-
The top stocks in the FTSE 100After a year of strong returns for the UK’s flagship index, which FTSE 100 stocks have posted the best performance in 2024?
-
A junior ISA could turn your child’s pocket money into thousands of poundsPersuading your child to put their pocket money in a junior ISA might be difficult, but the pennies could quickly grow into pounds – and teach them a valuable lesson about money
