HONEYCOMB Investment Trust is looking to raise up to £100m through its latest fundraising.
The alternative-finance focused fund announced it would embark on a series of share issues last year and has announced plans to place up to 9.52m shares priced at 10.5p per share.
The placing is expected to last just one day with an aim for the stock to start trading on April 23.
Analysts at Numis said it was unusual that the offer period was so short.
“This reflects the fund’s concentrated, institutional shareholder base with around 80 per cent of shares capital held by four shareholders,” an analyst note from Numis said.
“According to Bloomberg, the largest shareholders are Invesco, Old Mutual, Woodford, and M&G.”
Honeycomb raised £105m from an oversubscribed share placing last May, used to capitalise on new business opportunities.
The fundraising is the latest round of a larger share issuance programme that Honeycomb announced last year.
The fund posted an improved net asset value (NAV) return last month, up 0.72 per cent in March from 0.59 per cent in February.
It is currently trading on a premium to net asset value of 12.3 per cent.