Christian Mayes, Portfolio Adviser, 17 June 2025:
Polar Capital Global Financials has retained almost 60% of its issued share capital following the completion of a tender offer.
Overall, 43.83% of shares in the trust were tendered.
Polar Capital Global Financials offers shareholders the chance to exit through a tender offer every five years.
“Retaining close to 60% of the company and having assets in excess of £350m based on the latest published NAV, is a strong outcome for the company,” said board chair Simon Cordery.
“The response to the investment case set out by the team at Polar Capital has been very positive, with many investors recognising the value on offer in the financial sector.”
James Carthew, head of investment company research at QuotedData said the outcome looks like a “good result” for the trust.
“I am very supportive of this model of providing liquidity opportunities at asset value at five-yearly intervals.
“It helps keep the discount narrow and encourages investors to consider the long-term prospects of the company.
“Going into this, I felt that the investment case for financials was a strong one. It is great that the team at Polar Capital will have a chance to demonstrate that potential.”
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