LONDON - CQS New City High Yield Fund Limited, a specialist fixed income investment company, has applied for a block listing of 76 million new shares, according to an amended announcement released on December 11, 2024. The application was made to the Financial Conduct Authority (FCA) and the London Stock Exchange (LON:LSEG), with the aim of satisfying market demand and maintaining an efficient market for the company's shares.
The block listing is scheduled to become effective at 8:00 a.m. on December 12, 2024. Shares issued under this application will be at a premium to the latest net asset value per share prior to the issue, ensuring that there will be no dilution of the net asset value for existing shareholders. Additionally, the newly issued shares will rank equally with the currently issued shares.
The move is part of the company's strategy to facilitate the issuance of shares in response to market demand. By doing so, the company aims to provide liquidity and allow for the efficient functioning of the market in its shares.
The announcement clarifies that the details of the block listing application, which include the number of shares and the effective date, have been amended from a previous release. However, all other details regarding the application remain unchanged.
The information on the block listing application is based on a press release statement and provides key insights for investors interested in the company's financial maneuvers. It is intended to offer a transparent view of the company's efforts to manage its share capital actively.
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