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BB Healthcare Trust PLC

BB Healthcare seeks additional funds to tap pipeline of opportunities

The issue will comprise a placing, offer for subscription and intermediaries offer

picture of petri dishes
Lots of opportunities out there

BB Healthcare Trust PLC (LON:BBH) has kicked off a funding exercise to take advantage of what it says are a pipeline of opportunities in the biotech space.

The issue will comprise a placing, offer for subscription and intermediaries offer, it said today, with the price at a 1.5% premium to asset value on the day the placing closes.

READ: BB Healthcare Trust - Income and capital growth from the healthcare sector

No details on the possible size were released, though BB Healthcare said the aim is to complete the funding by the end of the month.

The trust listed in December with a remit to invest in up to 35 healthcare companies. Net asset value (before dividends) has risen by 18% to 116p since then, a performance matched by the shares that closed Friday at 117.5p.

Bellvue Asset Management manages the trust and said as well giving it the opportunity for new investments, increasing its size would improve its marketability and liquidity and lower costs.

Its strategy for BB Healthcare is long-only investments in listed or quoted global healthcare equities. BB Healthcare is also committed to paying an annual dividend equivalent to 3.5% of the NAV of the portfolio.

Quick facts: BB Healthcare Trust PLC

Price: £1.32

Market: LSE
Market Cap: £565.11 m
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