First State AIM VCT to offer ordinary shares

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First State AIM VCT to offer ordinary shares

Tue 22nd Nov 2005

First State Investments has announced that ordinary shares for the AIM Venture Capital Trust (VCT) will be available from early December.

This move has been made to raise funds of up to £25 million.

It is predicted that the First State AIM VCT ordinary shares will be available until the end of May 2006, or earlier if fully subscribed.

Paul Jourdan, head of UK equities at First State, said: "We are continuing to see a strong flow of fund raisings which qualify for VCT status, and currently anticipate the number of qualifying stocks in the portfolio rising further during the next few months."

Meanwhile, Richard Jones, also of First State, said the AIM VCT was an "extremely attractive investment opportunity".

He went on to say that the product had the potential to both maximise investment opportunities as well as "possessing the flexibility and tools to be defensive when we deem it necessary".

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