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LONDON - CQS New City High Yield Fund Limited has announced the issuance of 1,750,000 ordinary shares at a price of 50.5 pence per share. The new shares will be issued for cash on Thursday, April 16, 2025, from the company’s blocklisting facility.
Following the issuance, the total issued share capital of the company will reach 594,401,858 ordinary shares, with no shares held in treasury. Consequently, the total number of voting rights in the company will also stand at 594,401,858 from the date of issue.
Shareholders can use the updated share capital figure as the denominator for calculations to determine if they need to notify their interest or a change in their interest in the company, in accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
The issuance is part of the company’s ongoing efforts to manage its capital structure and provide liquidity to the market. The funds raised are expected to be used for general corporate purposes.
This move comes as the latest in a series of financial maneuvers by the investment management firm, which is overseen by Manulife | CQS Investment Management. The fund’s portfolio is managed with a focus on high yield investments, aiming to provide investors with a combination of income and potential capital growth.
Investors and market watchers may view this equity issue as a signal of the company’s intention to capitalize on market conditions or to fund further expansion of its investment activities.
The announcement was made through RNS, the news service of the London Stock Exchange (LON:LSEG), and is based on a press release statement. The company has enlisted the services of BNP Paribas (OTC:BNPQY) S.A., Jersey Branch for company secretarial and administrative matters, Singer Capital Markets LLP for corporate finance and sales, and TB Cardew for public relations advice.
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