Invesco Perpetual Smaller Companies (IPU) to shrink by 38%
19 June 2017
Strong performing investment trust will see its market value fall to £154 million after investors chose to sell back 38% of the shares.
http://www.theaic.co.uk/aic/news/citywire-news/invesco-perpetual-smaller-companies-to-shrink-by-38
In 2014 I circled around IPU when the Board announced the trust would substantially jack-up the dividend by salami slicing-off capital in an effort to shrink a previously stubborn near 20% discount. Also promised at the time was come 2017 suitable ways and means would be considered to allow investors an exit opportunity. While no mention of a tender offer was definitely made, rather the implication being that it was a possibility that has since come to pass.
But like I said; circle around IPU was all I did back in 2014. Well, you can’t will them all as I have to keep telling myself.