British Smaller Companies VCT PLC and British Smaller Companies VCT2 PLC on Tuesday confirmed they will use the over-allotment facility following strong demand for a subscription offer launched in November.
Applications for the fundraising, which seeks to raise £50 million, have been received totalling £45 million. As a result, the £25 million over-allotment facility will be used.
This increases the maximum amount which can be raised under the subscription to £75 million.
The deadline for applications is March 31.
Shares in British Smaller Companies VCT closed up 2.0% at 76 pence and in British Smaller Companies VCT2 PLC up 1.9% at 55.00 pence in London on Tuesday.
By Jeremy Cutler, Alliance News reporter.
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