LONDON (Alliance News) - SQN Asset Finance Income Fund Ltd Friday revealed that it intends to raise more money from investors later in 2015 after raising GBP30 million in a share placing announced last month.
The company said it issued just shy of 29.0 million new shares at 103.5 pence each to raise the funds, adding that the placing was "significantly" oversubscribed.
"The net proceeds of the placing will be used to fund committed transactions and further opportunities in the pipeline," the company said.
It expects to launch a "larger" fundraising at some point in the second half of 2015, which is likely to take the form of a C-share issue.
SQN shares were down 0.5% at 106.00p on Friday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.