Prelude raises £30m

Prelude has raised £30m via a placing, increasing the investment trusts' capitalisation to £90m. Ini...

Prelude has raised £30m via a placing, increasing the investment trusts' capitalisation to £90m. Initially the trust was looking to raise a smaller amount but decided to raise more due to demand, according to Robert Hook, managing director of Prelude. Its shares are currently trading at a 102% premium to the trust's NAV. The majority of the new money will be used to increase the trust's current portfolio positions, Hook said. The portfolio, with 14 holdings, predominantly invests in companies at an early stage of their development and covers a broad range of technology sectors. Most rece...