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JPMorgan Brazil seeks to continue share issues

By BFN News | 12:29 PM | Friday 13 August, 2010

JPMorgan Brazil Investment Trust will seek shareholder authority enabling it to continue the policy of issuing new ordinary shares into the market at a premium to NAV when demand arises. The trust has instructed advisers to take steps to enable it to continue issuing new shares once its existing share allotment authorities have been exhausted. Since admission in April, the shares have on average traded at a premium to NAV, enabling the company to issue a further 4.3m new shares for cash and raising about £4.37m. However, these further issues have now utilised around 92% of the directors' existing allotment authorities. Story provided by

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