LONDON (Alliance News) - Northern Venture Trust PLC, Northern 2 VCT PLC, and Northern 3 VCT PLC said Friday they will raise GBP6.6 million each in top-up offers.
The three trusts will launch the combined offer for a total of GBP19.8 million on January 7. It will remain open until April 5, unless fully subscribed at an earlier date.
The trusts explained: "Applications for the new shares in the company will be dealt with on a 'first come first served' basis with a minimum subscription of GBP6,000 in total and GBP2,000 in each of the Northern VCTs."
The new shares will be issued at a premium to the latest published net asset value per share, the trusts added. As at November 12, Northern Venture Trust's latest NAV was 70.8p, Northern 2's was 64.9p, and Northern 3's was 94.6p.
Shares in Northern Venture Trust were trading up 1.6% at 65.50 pence, Northern 2 VCT was down 1.6% at 60.50p, and Northern 3 VCT shares were untraded, last quoted at 88.50p, on Friday afternoon.
Northern Venture Trust (NVT)
Northern 2 Vct (NTV)
Northern 3 Vct (NTN)