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HgCapital Trust to raise ?80m

By Frank Prenesti

Date: Monday 10 Jun 2019

(Sharecast News) - HgCapital Trust on Monday said it planned to raise £80m through a placing of new shares.
The FTSE 250 company which focuses on unquoted investments in European software and service businesses, said it wanted to raise more equity in order to maximise opportunities to access Hg's "attractive proprietary pipeline".

Hg said its partners and staff would invest at least £10m either in the placing or, through purchases in the open market if it was oversubscribed.

"The current level of liquid resources available to the Company to invest is £97m, which represents 12% of the NAV as at 31 May 2019, this is a level below that of the long-run average that would typically be invested within a 12-month period," HG said in a statement.

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