City of London Investment Trust Issues New Shares, Updates Voting Rights Total

City of London Investment Trust PLC ( (GB:CTY) ) has provided an announcement.

The City of London Investment Trust PLC has issued 200,000 new ordinary shares of 25p each under its block listing facility at a price of 530p per share, increasing the total number of ordinary shares in issue to 504,207,106. Following this allotment, the trust now has a total of 33,673,489 voting rights across its ordinary shares, first preference stock and preferred ordinary stock, a figure that shareholders are instructed to use as the denominator when assessing whether they must disclose 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, focusing on providing long-term income and capital growth to investors through a diversified portfolio of mainly UK equities. As a closed-ended fund, it issues a fixed pool of shares that are traded on the stock market, with shareholder voting rights structured across ordinary, first preference, and preferred ordinary stock categories.

Average Trading Volume: 868,329

Technical Sentiment Signal: Buy

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