News blog

Alpha Returns Group

  • BY: Andrew Hore |
  • POSTED: 15/08/2013 |

Asia-focused investment company Alpha Returns Group is raising up to £736 ,000 after expense via a placing and ten-for-one open offer at a significant discount to the market price. 

The share price fell by three-eighths to 0.63p, and there is a bid/offer spread is 0.25p/1p. The latest issue price is 0.15p a share, which is still a large discount to the lower market price. The current NAV is 0.097p a share.

The placing will raise £510,000, while the ten-for-one open offer will raise up to £280,000. At the placing price the company would be valued at up to £860,000.

The company was formerly known as Shidu Capital and changed its name when it tweaked its investing policy. The focus is companies operating in high-growth Asian economies which have a profitable trading history or have potential for significant capital growth. Acquisitions will be financed by shares. The cash will be used to cover the corporate overheads. The board’s b asi pay totals £54,000 a year.

The open offer closes on 3 September.

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