Foresight VCT PLC - London-based venture capital trust - Launches new subscription offer to raise up to GBP20 million, with an over-allotment facility to raise up to a further GBP10 million, through the issue of new shares. Explains that the funds raised will allow the company to maintain liquity levels to take advantage of investment opportunities, maintain its dividend policy, make market purchases of its own shares, and pay for running costs.
Offer opens on Friday and will close on April 3. Foresight VCT says the offer will provide shareholders and new investors with an opportunity to invest in the company and benefit from the VCT tax reliefs available to qualifying investors.
Current stock price: 75.15 pence
12-month change: down 1.1%
By Heather Rydings, Alliance News senior economics reporter
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Foresight Technology (FTV)