By Joe Hoppe
Ruffer Funding Co. said Monday That it will enhance As a lot as 166.6 million kilos ($223.4 million) in an open supply, supply for subscription and intermediaries supply, for buying investments.
The investment-administration agency said that As a lot as 56.2 million shares Shall be made out there beneath The drawback at a worth of 296.5 pence a share, a 2.8% low cost to its closing worth of 305.0 pence on Friday and 1.77% premium to its internet asset worth.
Current shareholders are being supplyed one new share For every 4 shares held, and an extra software facility Shall be out there at administration’s discretion To permit shareholders To use for Greater than their entitlement.
Any shares not allotted beneath the open supply and extra software facility Shall be used Inside the subscription and intermediaries supply.
The agency said The drawback is conditional on shareholder approval, which It is going to search at A unprecedented widespread meeting on Dec. 3. The conditional supply Is predicted To close on Dec. 1, and shares are anticipated to be admitted to buying and promoting on Dec. 6.
Shares at 0944 GMT have been down 5.0 pence, or 1.6%, at 300.0 pence.
Write to Joe Hoppe at [email protected]