Mercia has announced the proposed acquisition of three VCT contracts for a total consideration of up to £25m, which would add £270m AuM – driving the group to pro-forma cash profitability from asset management in the first full year. An accelerated bookbuild has been launched to raise £30m (gross) at 25p in order to fund the initial acquisition consideration (£12.4m) and £15m to drive the Mercia balance sheet towards an evergreen (self-funding) position. In
03 Dec 2019
Acquisition of VCT contracts, £30m ABB; HY results show NAV growth
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Acquisition of VCT contracts, £30m ABB; HY results show NAV growth
Mercia Asset Management PLC (MERC:LON) | 33.8 -0.1 (-0.6%) | Mkt Cap: 146.3m
- Published:
03 Dec 2019 -
Author:
Andrew Watson -
Pages:
3
Mercia has announced the proposed acquisition of three VCT contracts for a total consideration of up to £25m, which would add £270m AuM – driving the group to pro-forma cash profitability from asset management in the first full year. An accelerated bookbuild has been launched to raise £30m (gross) at 25p in order to fund the initial acquisition consideration (£12.4m) and £15m to drive the Mercia balance sheet towards an evergreen (self-funding) position. In