Perpetual raises $101m in capital

Perpetual/capital-raise/shareholders/australian-equities/global-equities/australian-securities-exchange/ASX/dividends/

12 October 2018
| By Oksana Patron |
image
image
expand image

A strong response from investors has helped The Perpetual Equity Investment Company (PIC) raise more than $101 million in an offer which closed in late September and resulted in the addition of around 2,000 new shareholders.

The firm said investors demonstrated their strong interest by commitments for $44.81 million via the entitlement offer and top-up facility, as well as $56.43 million via the general offer and shortfall offer.

According to PIC’s chairman, Nancy Fox, investors also appreciated the access to long-term growth and the regular fully franked income that PIC provided.

“We are pleased with the level of investor support for the capital raising, both from existing and new shareholders,” she said.

“The strong commitment we have received shows there is ongoing investor demand for quality investment expertise.”

The proceeds of the capital raise would go towards company’s plans to expand its investment portfolio and increase its ability to take advantage of market opportunities, the firm said.

The company offers investors access to a concentrated and actively managed portfolio of both Australian and global securities, with a focus on delivering a sustainable income stream.

The portfolio aimed to hold between 20 to 40 securities diversified across industry and offshore investments.

Since listing on the Australian Securities Exchange in December 2014, the company has returned 9.9 per cent per annum, and declared total dividends of 6.3 cents per share fully franked for the 2018 financial year.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

3 weeks 4 days ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 3 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 2 days ago

TOP PERFORMING FUNDS