Honeycomb Investment Trust has announced that it has completed the placing, announced yesterday, of 5 million new ordinary shares in the Company, raising gross proceeds of £50m. The placing shares are to be issued at a price of £10 per share, which represents a 1.5% to the trust’s estimated net asset value per share of £9.853 as at 31 March 2016. It is expected that the new shares will be admitted to trading at 8.00 a.m. on 17 May 2016 and, following admission, the company’s issued share capital will comprise 15,000,001 ordinary shares. That said, the stock is incredibly tightly held, with negligible trading activity to date. Perhaps Honeycomb’s shareholder’s think it is just too sweet to trade?
Too Sweet to trade – Honeycomb raises a further £50m : HONY