Foresight VCT opens £5m overallotment in response to strong demand
To accommodate further demand, the VCT will raise up to a further £5m, with the offer remaining open until 30 April 2024, unless fully subscribed before that date.
This follows the launch of its up to £20m fundraise in November, which allowed for a potential £5m overallotment.
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In a stock exchange announcement today (20 December), the VCT board said that, to accommodate further demand, it will raise up to a further £5m, with the offer remaining open until 30 April 2024, unless fully subscribed before that date.
Foresight VCT explained the facility will be issued via the subscription of new ordinary shares worth 1 pence each.
In November, the venture capital trust explained the fundraise was aimed at maintaining liquidity levels to «take advantage of investment opportunities», as well as maintaining its dividend policy, making market purchases of its own shares and supporting its running costs.
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