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JPMorgan Global Growth & Income PLC - London-based Investment trust - Announces successful completion of placing and WRAP retail offer, which together raised gross proceeds of GBP34.5 million. JGGI says that the WRAP retail offer was materially oversubscribed, with orders received exceeding the EUR8 million limit. Subject to admission to the London Stock Exchange, JGGI will issue a total of 6.5 million new shares at a price of 533.75 pence each. 5.2 million new shares will be issued from the placing, and 1.3 million pursuant to the WRAP offer. Applications have been made for the new shares to be admitted to trading on the LSE, and JGGI expects these to become effective on or around February 23.
Chair Tristan Hillgarth says: "The level of demand for the company's shares has been encouraging, in particular, the interest from a new large UK wealth manager alongside other new investors and existing shareholders. The company has grown significantly in recent years via corporate actions, ongoing share issuance and most importantly, strong performance. This has enabled the company to deliver scale, with net assets now well in excess of GBP2 billion, and a material increase in the liquidity."
Current stock price: 532.24 pence per share, up 0.2% in London on Wednesday morning
12-month change: up 16%
By Hugh Cameron, Alliance News reporter
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