Funds & Inv Trusts 

Friends Life to offload £230m Witan stake

IC Top 100 Fund Witan Investment Trust (WTAN) plans to buy back up to 31.6m of its shares from Friends Life, which is selling its entire stake in the investment trust. The stake represents around 16 per cent of Witan's issued share capital, worth about £231m. Witan's shareholders will get to vote on whether this goes ahead on 26 May, as this buyback would be in addition to the trust's existing ability to buy back 14.99 per cent of its shares over the next 12 months.

Ready to join us? Start with a free account

Become a registered user today and enjoy: 

  • 3 free full-length articles every month
  • Weekly editorial newsletters providing the latest market updates
  • investment tools to help you manage your portfolio
  • In-depth podcasts on topics that matter to your money
Register
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now