LONDON (Alliance News) - Aurora Investment Trust PLC Thursday said it has raised GBP9.8 million in a placing of 5.97 million shares at a price of 163.85 pence.
Shares in the trust were up 1.1% at 165.28 pence Thursday.
Aurora had initially announced its plans to raise a minimum of GBP2 million in a placing last Friday.
"The outcome of the placing has exceeded our initial expectations. It shows a significant level of support from investors for the new investment strategy adopted when Phoenix Asset Management and Gary Channon took over management of the trust in January. We aim to continue to grow the trust by attracting investors who understand and support the investment strategy," said Aurora Non-Executive Chairman Howard Flight in a statement.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Aurora Inv.tst. (ARR)