Mobeus Income & Growth 2 VCT Boosts Offer Amid Over-Subscription (ALLISS)

LONDON (Alliance News) - Mobeus Income & Growth 2 VCT PLC said on Friday it has decided to use ...

Alliance News 13 October, 2017 | 12:01PM
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LONDON (Alliance News) - Mobeus Income & Growth 2 VCT PLC said on Friday it has decided to use its over-allotment facility after the original GBP10.0 million offer launched in September saw an 80% uptake.

The total potential offer is now GBP15.0 million.

The venture capital trust has already received applications for subscription totalling GBP8.1 million in respect to the original offer.

The company said that "in light of continuing strong demand from investors" and after consulting with the offers promoter, Mobeus Equity Partners LLP, the company decided to utilise its over-allotment facility. As a result it can now raise up to a further GBP5.0 million.

Mobeus Income & Growth 2 VCT offer was issued alongside similar offers made by Mobeus Income & Growth VCT PLC, Mobeus Income & Growth 4 VCT PLC and The Income & Growth VCT PLC on September 6. It was planned to raise a combined GBP50.0 million with over-allotment facilities allowing it to raise a further GBP30.0 million.

The offer will close on April 4, 2018 unless the offer is fully subscribed before that date.

Shares in Mobeus Income & Growth 2 VCT were untraded at 93.00 pence on Friday.

By Ahren Lester; ahrenlester@alliancenews.com.

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Mobeus Income & Growth 4 VCT Ord 79.25 GBX 0.00 -
Mobeus Income & Growth 2 VCT Ord 93.00 GBX 0.00 -
Mobeus Income & Growth VCT Ord 66.40 GBX 0.61 -
The Income & Growth VCT Ord 73.00 GBX 0.00 -
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