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£13.9 million raised for AVI Japan Opportunity Trust plc

Singer Capital Markets is delighted to have acted as Sponsor, Financial Adviser and Broker to AVI Japan Opportunity Trust on their raise of £13.9 million through the issue of 12,107,323 new ordinary shares of £0.01 each in the capital of the Company. 

The price per New Ordinary Share was 115.07 pence. The Placing Price is equivalent to a 2 per cent. premium to the unaudited net asset value per ordinary share at close of business on 12 February 2021.

The net proceeds of the Placing will be used to fund further investments in accordance with the Company’s investment objective and policy.

It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 17 February 2021.

Joe Bauernfreund, CEO and CIO of Asset Value Investors, commented:

“We want to take advantage of valuations which in many cases remain depressed despite encouraging signs of recovering earnings and heightened levels of corporate activity. In addition to investing in a number of new opportunities, the proceeds will be used to increase the size of the shareholdings in several companies where the manager is planning on submitting shareholder proposals at the AGM later this year. The increased stakes will improve the likelihood of a successful outcome.”

About AVI Japan Opportunity Trust plc

AJOT is an investment trust established to provide investors with capital growth through investing a focussed portfolio of over-capitalised small-cap Japanese equities. The Company’s investment manager, Asset Value Investors, will leverage its three decades of experience investing in asset-backed companies to engage with company management and help to unlock value in the under-researched area of the market.

Ticker: AJOT
Market Cap: £134.53 million*
Website: Click here

*As at 15/02/2021

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