Miton MicroCap trust to raise extra £30m

Miton MicroCap trust to raise extra £30m

Gervais Williams’ Miton UK MicroCap trust is seeking to raise a further £30m via a C-share issue.

The board of the trust, which raised £50m at launch last April and a further £5m last August and September, said it would issue up to 250 million shares over the next 12 months, commencing with the C-share issue.

The trust said it had invested “substantially all” of the net proceeds of its IPO within a four-month timeframe.

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“Despite the unsettled markets our investment strategy continues to identify new holdings with attractive risk/reward ratios,” Mr Williams said.