Baronsmead VCTs open to new investors

The primary offer seeks to raise £16m, comprising £8m from each vehicle. It is expected to attract a good level of support from existing Baronsmead shareholders that have expressed demand for new offers. Offers to existing shareholders in December 2007 were oversubscribed. Andrew Garside, fund manager for the generalist Baronsmead VCTs, said: "The joint offer is timely, as we believe the environment for private equity investing will become increasingly attractive, as corporate asset prices dip. As the VCTs are issuing ordinary shares, the joint offer enables new investors to immediately b...