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LONDON - Intuitive Investments Group plc (SFS: IIG), a closed-end investment company specializing in the technology and life sciences sectors, has successfully completed an equity fundraising of £1.56 million. The funds were raised through the issuance of 1,300,000 new ordinary shares at a price of £1.20 each. The proceeds are earmarked for the expansion of Hui 10 Inc.’s operations in China.
This strategic move is aimed at accelerating the rollout of Hui 10’s products and services within the Chinese market. Malcolm Gillies, a Non-Executive Director of IIG, participated in the fundraising by subscribing to 33,330 new ordinary shares, thereby increasing his beneficial interest to 0.09% of the company’s issued share capital following the admission of the new shares.
The new ordinary shares are expected to begin trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange (LON:LSEG) at 8:00 a.m. on or around Monday. After the admission, IIG’s total issued share capital will consist of 208,218,006 ordinary shares, with the same number representing the total voting rights, as the company holds no shares in treasury.
Shareholders have been advised to use this figure as the denominator for their calculations to determine whether they must notify their interest in, or a change to their interest in, the company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
This financial move by IIG is based on a press release statement and reflects the company’s focus on supporting high-growth opportunities within its sectors of interest.
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