TwentyFour Income Fund has announced the results of its placing, which raised £48m (before costs and expenses) through the issue of 43,743,734 new ordinary shares at a price of 109.73p per share. The company says that the placing price represents a premium of 2% to the unaudited NAV of 107.58 pence per share as at 19 August 2016. The company says that admission of the new shares to the LSE’s main market is expected to become effective at 8 a.m. on 31 August 2016. Following the Issue, the Company says that its issued share capital will comprise 377,314,151 ordinary shares.
TwentyFour Income Fund’s placing raises £48m : TFIF