Investments  

Woodford trust looks to raise more capital

Woodford trust looks to raise more capital

Woodford Patient Capital is looking at ways to raise additional capital after deploying the proceeds of its initial public offering.

In an announcement for the £789m investment trust, the company said it would consult with investors on possible ways to raise further funds.

The company said: “Woodford Patient Capital trust has successfully deployed the proceeds of its initial public offering and has a substantial ongoing pipeline of investment opportunities.

Article continues after advert

“With the current market conditions in mind, the board of the company is currently looking at ways it can raise additional capital in the year ahead and will consult with, and gauge interest from, investors.”

Having initially targeted a fundraising of £200m to £500m at launch last Spring, the trust increased this figure to £800m due to investor demand. It then raised a further £30m in August and September via a “tap issue”.