Foresight Technology VCT is looking to raise £20m through a new share issue this week The issue will...
Foresight Technology VCT is looking to raise £20m through a new share issue this week
The issue will take the form of 'C' shares. Capital raised will create a separate fund which would be managed by Foresight. Commission for IFAs on the new 'C'-shares will be 2.25% initial and 0.375% trail
Bernard Fairman, director of VCF Partners, the trust's investment advisers, said: "Currently there are few ways for private investors to get access to new technology companies. This is one way in which they participate in the internet economy
There is a major reason why new capital will be kept as a separate fund
The existing portfolio has been impossible to value bec-ause one of its holdings has seen a rapid rise in share price on the back of speculation that the company may float. This caused the VCT's price to double last week, prompting an enquiry from the Stock Exch-ange
The holding is SyNet Communications, which runs an internet portal site with several facilities including on-line games, email, personal home pages, a chat room and e-commerce
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