MA Credit Income Trust launches $49.7m equity raise
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More news: MA Financial's listed investment trust MA Credit Income Trust (MA1) has launched a wholesale placement to raise up to $49.7 million.
The offer price of $2 per share represents a 1% discount to MA1's last closing price of $2.02.
MA1 will issue nearly 25 million new shares as part of the raise, taking total shares on issue to around 190.5 million.
The proceeds from the placement will be invested in private credit investments in MA1's three core market segments — direct asset lending, asset backed lending and direct corporate lending.
MA Credit Income Trust enters trading halt ahead of equity raise
The news: MA Financial's listed investment trust MA Credit Income Trust (MA1) has entered a trading halt, ahead of an announcement relating to a proposed equity raise.
The context: MA1 offers investors access to the private credit strategies of alternative asset manager MA Financial. MA1 has requested the trading halt remains in place until the announcement is made or the start of trading on Wednesday.
MA1 said the proposed equity raise will be undertaken by way of a placement.
