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The Hadrian’s Wall Secured Investments raised the cash through C share issue.

The Hadrian’s Wall Secured Investments trust raised the cash through C share issue.

https://goo.gl/S8MnX4


The Hadrian’s Wall Secured Investments trust raised the cash through C share issue.

 

 

investment trust Hadrian’s Wall Secured Investments has raised £20.1m through a new C share issue, according to regulatory documents.

 

The fund, says Numis Securities’ Ewan Lovett-Turner, aims to take advantage of on-going financial disintermediation of bank lensing to firms by investing in UK SME loans secured by a range of assets, including equipment, plant and machinery, real estate and trade receivables. It targets a dividend of 6p per annum, which is expected to grow over .

 

Loans target mid- sized firms with annual revenue between £1m-£25m.

 

The new shares will trade under the ticker “HWSC” from tomorrow (13 March).  Targeting an issue of up to £50m, the proceeds are expected to be deployed within six to nine months.

 

Hadrian’s Wall Secured Investments raised £80m at IPO back in June 2016, with Old Mutual Global Investors taking a 25 per cent stake. The fund raised a further £45.2m via a C share in May, which converted into Ordinary shares on 27 February. As a result, the ordinary shares now have a market cap of £4m.

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