Downing Corporate Finance and Isis have launched asset raising exercises for existing venture capita...
Downing Corporate Finance and Isis have launched asset raising exercises for existing venture capital trusts.
Isis is seeking £14m for its generalist Baronsmead VCT, while Downing is hoping to raise £10m for its Pennine AIM VCT, managed by Rathbone Investment Management.
The Baronsmead VCT has a minimum investment of £3,000 into the offer of C shares. It said the issue would allow the VCT's portfolio to be broadened to around 50 holdings when valuations are attractive.
Investors can make subscriptions into the 2002/03 and 2003/04 issues until 3 April and 23 May respectively. Minimum investment into the Pennine AIM VCT, which was launched in 1996, is just £2,000 into the C share issue. Like the Baronsmead VCT, the issue is split over the 2002/03 and 2003/04 tax years. The closing dates are 4 April and 30 April respectively.
For more information, contact the Isis Investor helpline on 08457 992 299 or Downing on 020 7411 4700.
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