Finsbury Growth & Income trust seeks further equity issuance

Hoping to add 10% to share capital

The board of the Finsbury Growth & Income Trust, managed by Nick Train, is seeking to issue an additional 10% of equity for its £635m trust following a successful issuance in July.

The company said the trust has consistently traded close to its net asset value, which enabled the directors to issue 7.5m shares over the summer.  Shareholders have been called upon again to authorise the issuance of a further 10% of shares as there is "reasonable demand" in the market. It intends to call a general meeting on 12 November to vote on the matter.  Train: Six years into the rally, I am still exceptional bullish The trust has been one of the strongest UK Equity Income investment trusts, it is top quartile over both one and three years. Over one year, the company ha...