logo-loader
viewAPQ Global

APQ Global raises £10mln to boost returns from emerging markets

Some gearing will enable it to generate increased total returns over the longer term

pound notes
Old Mutual is a major backer of APQ

Emerging markets investor APQ Global Limited (LON:APQ) has raised £10mln from a  tranche of 3.5% convertible unsecured loan stock repayable in 2024.

The issue follows a £20.09mln convertible loan issue in September last year and APQ believes that some gearing will enable it to generate increased total returns over the longer term.

WATCH: Recent volatility 'a violent technical washout' in equity markets - APQ Global's Bart Turtelboom

The initial conversion price is 105.358p or a 10% premium to the unaudited book value on 31 July 2017. Net proceeds are expected to be approximately £9.8mln.

Old Mutual, a substantial shareholder in APQ, is investing in the placing and is classed a related party under AIM rules.

Quick facts: APQ Global

Price: 17.5 GBX

AIM:APQ
Market: AIM
Market Cap: £13.7 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of APQ Global named herein, including the promotion by the Company of APQ Global in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

APQ Global sees new partner network as attractive additional growth opportunity

Bart Turtelboom, chief executive of APQ Global PLC (LON:APQ), gives Proactive Investors more detail about their innovative new network aimed at harnessing the potential of up and coming businesses in its spheres of interest. The first two names on the roster are DW Agriculture and...

on 16/5/18

2 min read