Shadow banking group Ranger Direct Lending (RDL) is to raise up to £40m in an open offer and placing earmarked for early December. The issue of C-shares – which tend to carry higher expense ratios than class A shares – are set to follow the full deployment of the proceeds raised from the issue of so-called zero-dividend preference shares earlier this year, and will be used for further investments in the direct lending sector.
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A prospectus detailing the offering, and the specifics of the C-shares will be made available in the week commencing 21 November.