Personal Finance

Honeycomb raises £105m as investors swarm to towards alternative sources of income

Specialist lending trust Honeycomb (HONY) has raised £105 million, as investors continue to swarm towards alternative sources of income.

The trust issued 10 million shares at £10.50 in an oversubscribed placing. The issue price represented a 5.6% premium to the net asset value (NAV) as of 30 April but a 5.8% discount to the closing price of £11.15 on 24 May, the day before the placing was announced.

The £105 million raising grows the trust by around 50% to £300 million and is just the latest issuance for the rapidly growing fund. It launched in December 2015, raising an initial £100 million, and followed up with issuances in May and December last year of £50 million each.

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This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

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