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Proven VCT ( (GB:PVN) ) just unveiled an announcement.
ProVen VCT plc has issued 6,464,497 new ordinary shares at an average price of 63.76p under its ongoing offer for subscription, priced with reference to a latest adjusted net asset value of 61.4p per share. The new shares, which rank pari passu with existing stock, will be admitted to the Official List and to trading in London, taking the company’s total issued share capital and voting rights to 292,989,153 ordinary shares and modestly expanding its capital base.
The allotment underscores continued investor demand for the trust and provides additional capital for deployment into qualifying investments, supporting ProVen VCT’s capacity to back growth companies while spreading costs and portfolio risk over a larger shareholder base. For existing investors, the transaction slightly dilutes individual holdings but may enhance liquidity in the shares and strengthen the trust’s position in the competitive UK venture capital trust market.
More about Proven VCT
ProVen VCT plc is a UK-listed venture capital trust that provides individual investors with exposure to a diversified portfolio of unquoted and smaller quoted growth companies. Structured as a closed-ended investment vehicle on the London Stock Exchange, it focuses on tax-efficient investment in emerging businesses in line with UK VCT regulations.
Average Trading Volume: 463,445
Technical Sentiment Signal: Strong Buy
See more data about PVN stock on TipRanks’ Stock Analysis page.