Octopus AIM VCTs issue £20m of new shares

Offer for Octopus AIM VCT 2 oversubscribed

Octopus AIM VCT has issued £10.4m of new shares as part of a subscription offer to raise up to £20m in the 2020-21 and 2021-22 tax years in conjunction with Octopus AIM VCT 2.

A total of 8,562,918 were issued at a price of 121.4p per share, equivalent to the current NAV of 114.7p grossed up by up to 5.5%. In addition, Octopus AIM VCT 2 has issued £7.5m worth of new ordinary shares as part of the same subscription offer. The number of new share issued by this VCT under the offer was 8,353,120 at a price of 89.9p, which is equivalent to the current NAV of 84.8p grossed up by up to 5.5%. Octopus opens £80m fundraise for UK's largest VCT Octopus AIM VCT 2 also issued a further 2,174,835 of ordinary shares at the same price which were allotted outside the ...