By Tom Winnifrith | Saturday 5 October 2019
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
ShareProphets earns a small commission any time a reader who registered with Primary Bid via ourselves subscribes for one of its offers. For that reason we urge you all to sign up HERE. Normally, we spite ourselves and slate Primary Bid offers but today's offer, Duke Royalty (DUKE) is actually a business of substance with institutional support, profits, cash generated and which upped its most recent dividend by 33%. It looks interesting.
Duke Royalty Limited is a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad.
On Friday the company announced a conditional fundraising of up to approximately £20 million (before expenses) at an issue price of 44 pence per New Ordinary Share , being a discount of 6.4% to the closing mid-price on 3 October 2019.
The net proceeds of the fundraising along with previously announced revolving credit facility will give the company the capital to be deployed into an additional royalty partner under letter of intent, multiple follow on investments within the existing portfolio, pay down of debt and provide funding for pipeline of additional royalty partners.
The Retail Offer, via the PrimaryBid.com platform, will be open to investors until 9:00 p.m. on 6 October 2019 (Sunday) but might close earlier of there is too m uch demand.
Whatever you do,, sign up for Primary Bid HERE as one day you will like an offer but Duke looks worth investigating.
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