In this edition of the IIR LMI monthly update, we take a look at the key news for the sector in March. There was a number of Share Purchase Plans (SPP’s) announced and completed during the month as LICs and LITs seek to raise additional capital to take advantage of market volatility. Some of the key news items include: PIMCO …
IIR Reaffirms Recommended Plus Rating for Pengana Private Equity Trust (ASX: PE1)
The Pengana Private Equity Trust (ASX: PE1) is a listed investment trust (LIT) providing exposure to a portfolio of global private market investments. The Trust is coming up to its three-year anniversary with the Trust listing in April 2019, raising $205m through the issue of 164m units. The Trust raised a further $93.5m through a secondary market capital raising in …
Updated Coverage of Kogi Iron (ASX: KFE)
The last 12 months have seen some significant changes in Kogi Iron, including an almost total refresh of the board, and the all-scrip acquisition of several iron ore projects in Western Australia, with this also bringing several experienced and recognised resource identities onto the register as cornerstone shareholders. The main focus however will remain its 100%-owned Agbaja Integrated Cast Steel …
Argo Investments Limited (ASX: ARG) Announces Share Purchase Plan
On 8 March 2022, ARG announced a Share Purchase Plan (SPP). The SPP opens on 11 March 2022 and will close on 24 March 2022 providing eligible shareholders the opportunity to acquire up to $30,000 of new ARG shares. New shares will be issued at the lower of : $9.30 per share – represents a 2% discount to the closing …
AMCIL Limited (ASX: AMH) Raises $10m through SPP
AMH announced that it raised $10m through the recent Share Purchase Plan (SPP). Approximately 530 shareholders participated in the SPP, representing a participation rate of 16%. Shares will be issued at $1.15 per share with new AMH shares to be issued on 9 March 2022.
Metrics Income Opportunities Trust (ASX: MOT) Raises ~$113m
On 2 March 2022, MOT announced that it had raised approximately $113m (subject to final allocations and settlement) through the Non-Renounceable Entitlement Offer announced in February. Approximately 13m units will be issued under the Entitlement Offer and approximately 40m units will be issued to investors under the Shortfall Offer. All units will be issued at $2.12 per unit.