Polar Capital Global Financials raises £16.6m – Polar Capital Global Financials (PCFT) has has raised gross proceeds of £16.6m through the issue of 9,905,427 new ordinary shares at 167.75 pence per new ordinary share. This represents a premium of 1.5% to the unaudited net asset value, including current year income, per share as at close of business on 24 February 2022. The net proceeds are intended to be invested further in the global financial sector in accordance with the company’s investment objective.
Following settlement of the placing, the company has authority to issue a further 351,224,680 C or ordinary shares should there be continued demand in the market.
An application has been made in respect of the 9,905,427 shares to be issued pursuant to the placing to be admitted to the premium segment of the Official List and to trading on the London Stock Exchange’s Main Market for listed securities. It is expected that admission will become effective and dealings will commence at 8.00 a.m on 1 March 2022. The new ordinary shares will, when issued, be credited as fully paid and will rank pari passu with the existing ordinary shares.
PCFT : Polar Capital Global Financials raises £16.6m