Successful placement for Future Generation Investment Company

Company News

by Katrina Bullock

Future Generation Investment Company (ASX:FGX) will begin trading again today after raising over $43.9 million through a placement to existing investors.

One per cent of the company's assets are invested in charities each year.

The share purchase plan offered existing shareholders the opportunity to acquire up to $15,000 worth of shares without incurring brokerage fees.

It is expected to issue 37,226,818 shares at the issue price of $1.18 per share.

The money raised through the placement will increase its annual investment in Australian charities by approximately $429,000 each year.

Shares in Future Generation Investment Company (ASX:FGX) are trading flat today at $1.19.