India Capital Growth raises £23m after heavily discounted share issue

Subscription shares issued in 2014

Jayna Rana
clock • 3 min read

Ocean Dial Asset Management's India Capital Growth fund has raised £22.8m following the expiration of its subscription shares issued on a 'one for two' basis in August 2014.

Prior to the capital raise, the trust had £80m worth of assets, but today's announcement has seen the total AUM increase by £22.8m to £102.8m. The money was raised through a 'one for two' share issue, where each subscription share carried the right to subscribe for one ordinary share at a price of 61p (the share price on 6 August 2014), representing a 31.5% discount to the NAV of 89p and a 7.6% discount to the share price of 66p as at 5 August 2016. The shares were issued two years ago, after the trust saw its performance improve and the managers decide to explore ways of increasing i...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot