The board of the Mobius Investment Trust has approved a tap issuance for the company, which raised £100m in its September Initial Public Offering (IPO), according to portfolio manager Carlos Hardenberg.
Last week, the Mobius Capital Partners co-founder said the decision was part of a "growth strategy" for the trust, which is now trading at a premium of 4.2%, allowing it to issue new shares at a premium to its net asset value (NAV) to meet demand. Mobius: 'Why we are excited by the current state of the markets' The trust has the ability to issue an additional 20% of new shares, amounting to £20m at its current size. At the most recent meeting, the board granted approval for the tap facility to be utilised in response to the trust's increasing premium. The IPO fundraising was £100m...
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