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(Alliance News) - Mobeus Income & Growth VCT PLC and Mobeus Income & Growth 4 VCT PLC said Tuesday each have utilised the over-allotment facility for its subscription offer following "strong" investor demand.
The offer was launched in conjunction with the Income & Growth VCT PLC, also managed by Mobeus, and Mobeus Income & Growth 2 VCT PLC. The companies were hoping to raise a combined GBP38 million, with an optional over-allotment facility up to a further GBP20 million.
Since the offer was launched in October, MIG has received applications for subscriptions totalling GBP5.7 million, as of Monday, while MIG 4 has raised GBP4.8 million.
Both trusts have decided to utilise the over-allotment facility, raising the amount each can raise to GBP15 million for MIG and GBP13 million for MIG 4.
The offer will close at the end of March, or before that should it become fully subscribed.
Shares in both Mobeus Income & Growth VCT and Mobeus Income & Growth 4 VCT were untraded in London on Tuesday but last closed at 63.00 pence and 71.38p, respectively.
By Paul McGowan; paulmcgowan@alliancenews.com
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