Albion Capital Group is intending to raise a total of up to £45mln with proposed top-up offers for five of its venture capital trusts.
Prospectuses will soon be launched to raise £7mln for Albion Development VCT PLC, £6mln for Albion Enterprise VCT, £14mln for Albion Technology & General VCT, £6mln for Crown Place VCT and £12mln for Kings Arms Yard VCT, with issues of new ordinary shares for subscription in the 2020/2021 and 2021/2022 tax years.
On top of that, there will be an allowance for a potential over-allotment facility for a further £3mln for each of its VCTs, the investment manager said.
Decisions on whether to use the over-allotment facility will be subject to the decision of the individual boards of each of the companies.
Full details of the offers will be contained in a prospectus that is expected to be published in early January 2021, which will be available on the Albion Capital website.