JP Morgan Global Growth & Income raises £34.5m in placing and retail offer

Retail offer ‘materially oversubscribed’

clock • 2 min read

JP Morgan Global Growth & Income (JGGI) trust has raised £34.5m in a placing and retail offer launched last week.

In a stock exchange notice today (21 February), the trust said its retail offer has been "materially oversubscribed", with orders exceeding the €8m threshold and subject to scale back. Subject to admission, the fund will issue a total of 6,472,847 new ordinary shares at 5p each in the capital of the trust, at an issue price of 533.75p per new share. The issue price represents a 0.6% premium to cum-income NAV as of Monday (19 February), which was the last published net asset value per share before the closing of the fundraising. JP Morgan Global Growth & Income launches up to £40m f...

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