City of London Investment Trust Issues 1.65 Million New Shares and Updates Voting Rights

City of London Investment Trust PLC ( (GB:CTY) ) just unveiled an update.

The City of London Investment Trust PLC has issued 1,650,000 new ordinary shares of 25p each under its existing block listing facility, at a cash price of 538.5p per share, increasing the total number of ordinary shares in issue to 505,857,106. Following this allotment, the company has confirmed that the total number of voting rights now stands at 33,783,489 across its ordinary shares, First Preference Stock and Preferred Ordinary Stock, a figure that shareholders should use when assessing whether they are required to notify holdings or changes in holdings under the FCA’s Disclosure Guidance and Transparency Rules.

Spark’s Take on GB:CTY Stock

According to Spark, TipRanks’ AI Analyst, GB:CTY is a Neutral.

City of London Investment Trust PLC benefits from strong financial performance and an attractive valuation, particularly in terms of its low P/E ratio and consistent dividend policy. However, technical indicators suggest potential price weakness, and limited cash flow transparency poses some risk. Recent corporate events show management’s confidence, but the technical analysis and cash flow opacity weigh more heavily on the overall score.

To see Spark’s full report on GB:CTY stock, click here.

More about City of London Investment Trust PLC

The City of London Investment Trust PLC is a UK-listed investment trust managed by Janus Henderson Fund Management UK Limited, focusing on listed equities and income-oriented investment for shareholders through a diversified portfolio. It is one of the established UK equity income trusts, providing investors with exposure to a broad range of companies while targeting steady dividends and long-term capital growth.

Average Trading Volume: 875,796

Technical Sentiment Signal: Buy

Learn more about CTY stock on TipRanks’ Stock Analysis page.