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Thursday, Ashoka India Equity Investment Trust PLC announced the issuance of 500,000 ordinary shares at a price of 285.70 pence each. The shares were issued at a premium to the prevailing net asset value (cum income) per share, utilizing the company's block listing facility.
Following the issuance, the company's total issued share capital now comprises 163,289,643 ordinary shares, all of which carry voting rights. This updated share count is now the figure that shareholders will use as the denominator for calculations to determine if they need to notify their interest in the company, or a change to their interest, per the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The issuance of shares is an integral part of the company's strategy to raise capital. By opting to issue shares at a premium, Ashoka India Equity Investment Trust PLC is able to generate additional funds without diluting the existing shareholders' value as much as it would at or below the net asset value.
The newly issued shares are expected to be admitted to trading, which will provide new investors an opportunity to participate in the company's growth. The company's Legal Entity Identifier (LEI) is 213800KX5ZS1NGAR2J89, which is required for legal trading activities.
Investors and potential shareholders are advised to use the new total number of ordinary shares with voting rights as a reference for any reporting requirements under the applicable regulations. The company has not provided any further details on the specific use of proceeds from this share issuance.
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