Bluefield Solar launches £20m buyback scheme due to 'weak' share price

Trading at 26.8% discount

Cristian Angeloni
clock • 1 min read

Bluefield Solar Income fund (BSIF) has unveiled a share buyback programme for £20m, citing “weakness in its share price” and a “significant discount”.

As per authority granted at its annual general meeting in November 2023, the trust will return value to investors by purchasing its own shares for up to 14.99% of its issued share capital. The programme will be funded via a combination of available liquidity, excess operating cash flows from the portfolio and proceeds from any asset sales which the trust has already commenced, it explained in a stock exchange notice today (15 February). JP Morgan Global Growth & Income launches up to £40m fundraise amid wealth manager demand BSIF's board said the trust keeps its capital allocation ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment Trusts

Trustpilot