City of London Investment Trust Issues 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 100,000 new fully paid ordinary shares of 25p each under its block listing facility at a price of 528.5p per share, increasing the total number of ordinary shares in issue to 503,832,106. Following this allotment, the company’s total voting rights now stand at 33,648,489 across its ordinary shares, First Preference Stock and Preferred Ordinary Stock, a figure that shareholders should use as the denominator when assessing whether they must notify the regulator of any changes in their 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, focused on providing investors with exposure to a diversified portfolio of income-generating equities. As part of the UK investment trust sector, it offers listed shares to public market investors and is subject to the Financial Conduct Authority’s disclosure and transparency regulations.

Average Trading Volume: 897,566

Technical Sentiment Signal: Buy

See more insights into CTY stock on TipRanks’ Stock Analysis page.