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VCTs could raise £1bn this year
Posted: October 20th, 2021, 12:25 pm
by sinterklaas
With Albion now joining the throng of VCTs I think just about everybody is raising this year.
Mobeus, Northern, British Smaller Companies, Albion, Maven, Baronsmead – check
Octopus AIM, Amati AIM, Hargreave Hale AIM – check. (Unicorn AIM offers are usually late in the year if I recall correctly, February or thereabouts? So maybe)
Octopus Titan and Octopus Apollo - check. Titan amount not known yet but usually big…
Plus Downing, Puma, Foresight, Triple Point, Seneca, Calculus, just about a full house I think?
So the question is, does demand keep up – as it certainly seems to be doing so far?
If it does I would not be surprised if VCTs raise close to a billion.
Re: VCTs could raise £1bn this year
Posted: October 20th, 2021, 12:43 pm
by sinterklaas
oh, and I forgot Pembroke. And Blackfinch’s newcomer VCT.
Re: VCTs could raise £1bn this year
Posted: October 20th, 2021, 12:52 pm
by Boots
Well, all that money "unspent because of Covid" was inevitably going to have to find a new home.
Warren Buffet said "Be fearful when others are greedy and be greedy only when others are fearful." Sadly advice too late for me, as I just reached my maximum for this tax year.
Re: VCTs could raise £1bn this year
Posted: October 21st, 2021, 2:55 pm
by barchid
Titan has just announced their normal jumbo raise, this year it is an "inter city", (remember those 125's ?) plus a £75m over allotment facility.
Re: VCTs could raise £1bn this year
Posted: October 21st, 2021, 4:42 pm
by UncleEbenezer
barchid wrote:Titan has just announced their normal jumbo raise, this year it is an "inter city", (remember those 125's ?) plus a £75m over allotment facility.
Get in quick before it fills up!
They're in what looks like a strong position this year, with the biggest batch of successes since Graze/Zoopla.
Re: VCTs could raise £1bn this year
Posted: October 21st, 2021, 4:55 pm
by barchid
Uncle
Also if bought by mid November it ranks for the 2p & 6p dividend which appeals to some people, including myself.
Re: VCTs could raise £1bn this year
Posted: October 26th, 2021, 3:31 pm
by barchid
So this morning Octopus Apollo closed early with their full £40m, waiting to see if they over allot the extra £20m as in prospectus. BSC are over allotting and are close to £50m which is a lump for them & now Unicorn have just confirmed their offer is to be in January but only small, £25m.
The thing to note with this Unicorn offer though is that as they have no official discount management system anyone with these vct's outside the 5 years has their best chance to sell, as currently the discount is 15%ish on last nav, but traditionally by the time their offer opens it is down to single figures. It widens out pretty swiftly as the offer starts to close...
Sadly mine are about 8 months short of the 5 years so I keep my fingers crossed they have another offer next season.
The nav performance has been good but why they choose not to manage the discount is a mystery to me as you have less incentive to invest in them.