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Proven Growth and Income VCT ( (GB:PGOO) ) just unveiled an update.
ProVen Growth and Income VCT plc has issued 2,565,928 new ordinary shares at an average price of 49.67p under its ongoing offer for subscription, priced with reference to the latest adjusted net asset value of 47.75p per share. The company plans to seek admission of these shares to the Official List and trading on the London Stock Exchange, with the new stock ranking pari passu with existing shares and taking the total issued share capital and voting rights to 330,155,123 ordinary shares.
The enlarged capital base reflects continued investor demand for the trust’s shares and provides additional funds for investment into its portfolio of growth companies. This equity issuance may support ProVen Growth and Income VCT’s capacity to deploy capital into new and existing holdings, reinforcing its position in the UK venture capital trust market and potentially enhancing diversification and scale for shareholders over time.
More about Proven Growth and Income VCT
ProVen Growth and Income VCT plc is a UK-listed venture capital trust that invests in a diversified portfolio of growth-oriented smaller companies, offering investors exposure to early-stage and expanding businesses while aiming to provide income and capital growth. Its shares trade on the London Stock Exchange, giving retail and institutional investors access to tax-efficient venture capital investments.
Average Trading Volume: 667,564
Technical Sentiment Signal: Buy
Learn more about PGOO stock on TipRanks’ Stock Analysis page.