- Argo Global (ALI) offers share purchase plan (SPP) to raise funds for investments in global listed infrastructure securities
- Shareholders may subscribe for up to $30,000 worth of new shares in Argo without incurring brokerage or other charges
- The SPP is set to open on October 1, with shares offered to eligible investors who held ALI shares on September 27
- The share price will be the lower amount of either the closing price on September 27 of of $2.28, or the five-day volume-weighted average price
- Shares are trading 5 per cent lower at $2.28 at market close
Argo Global (ALI) has announced a share purchase plan (SPP) to raise funds for investments in global listed infrastructure securities.
ALI operates by investing in a portfolio of globally-listed infrastructure companies, providing its investors with exposure to a diversified portfolio of infrastructure securities.
On the company’s website, it explained the portfolio of infrastructure stocks is diversified across both emerging and developed economies and investors are able to access the full spectrum of infrastructure assets, including those not accessible via the ASX.
The SPP is set to open on October 1, with shares offered to eligible investors who held ALI shares on September 27.
Shareholders will be able to subscribe for up to $30,000 worth of new fully paid ordinary shares in Argo without incurring brokerage fees or other charges.
The share price will be the lower amount of either $2.28 per new share, representing a 5 per cent discount to the closing price on September 27, or the five-day volume-weighted average price over the SPP offer period between October 8 and October 14.
Shares were trading 5 per cent lower at $2.28 at market close.