LONDON - JPMorgan (NYSE:JPM) Global Growth & Income PLC has issued 50,000 new ordinary shares at a price of 588.00 pence per share, the company announced today. This issuance is part of an existing block listing facility established on May 24, 2024.
Following this transaction, the investment trust's total issued share capital has reached 510,077,308 ordinary shares. Shareholders can use this number as the denominator for calculations needed to determine whether they must disclose changes in their stake in the company as per the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The company confirmed that it has 5,939,140 ordinary shares still available for issuance under the block listing facility. JPMorgan Global Growth & Income PLC also stated that it does not hold any ordinary shares in Treasury and that any re-issuance of shares held in Treasury will be conducted at a premium to net asset value at the time of the issue.
This move comes as part of the company's strategy to raise capital for further investments. The issuance of shares is a common practice for investment trusts seeking to expand their portfolios and provide additional liquidity. The price of 588.00 pence per share reflects the market conditions and the company's valuation at the time of the offering.
Investors and market watchers often view share issuances as an indication of a company's growth prospects and financial health. In the case of JPMorgan Global Growth & Income PLC, the issuance contributes to the company's ability to pursue its investment objectives.
This information is based on a press release statement from JPMorgan Global Growth & Income PLC and has been disseminated through RNS, the news service of the London Stock Exchange (LON:LSEG).
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