SQN Asset Finance Income Fund has announced that it is looking to raise £30m through a placing of new ordinary shares. The company had its IPO in July 2014 raising £150m and since this time has funded £122m of investments. However, the company says it now has funded, approved and committed investments of £173m as well as a strong pipeline of opportunities totalling £80m. The net proceeds of the Placing will be used to fund the committed transactions with the balance to be used to fund pipeline opportunities. The issue price per New Share will be no less than 103.50 pence, representing a 5 per cent. premium to the Company’s unaudited net asset value per share as at 30 April 2015.
SQN : SQN Asset Finance is looking to raise £30m of Equity