LONDON (Reuters) – Private equity firm HgCapital Trust plc (HGT.L) plans to raise 30 million to 50 million pounds ($47-$79 million) by issuing new shares next month to fund investments, people familiar with the matter said.
The firm, with a market value of 210 million pounds, on Wednesday announced that it is considering selling new shares by means of a placing and open offer.
Shares of HgCapital, which specialises in European mid-market investments, traded 1.8 percent higher at 825 pence each after the announcement.
The company also proposed a bonus issue of subscription shares to existing shareholders and an interim dividend of 25 pence, accelerating dividend payments to shareholders.
HgCapital, which is debt-free, has committed 280 million pounds to HgCapital 6 and is in discussions to make a commitment to Hg Renewable Power Partners 2 LP.