TwentyFour Income is looking to issue up to 150 million new shares at a 2% premium to the NAV through a placing, offer for subscription and open offer.
The placing opens today and will close on 14 May, while the latest date for applications through an offer for subscription or open offer is 8 May. Existing investors may apply for one share per every four shares held, as of 11 April, with the issue price being announced on 13 May, based on the NAV on 10 May. Additionally, the trust is seeking to launch a placing programme which would allow it to issue up to a further 150 million shares from 14 May to 14 April 2020. The move is a result of investor demand as well as the fund manager's conviction that there is significant opportunit...
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