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Flood of new shares from Allianz Technology to meet demand
Strong demand has prompted Allianz Technology Trust (ATT) to ask shareholders for permission to issue a flood of new shares just weeks after sealing a similar agreement.
At its annual general meeting on 25 April the trust was granted approval to issue 2.9m new shares, and within two months more than half are now trading on the stock market.
It is worried that all of these new shares will be issued in the near future and that ongoing demand warrants authority to issue a further 10% of its issued share capital.
Allianz Technology’s share price has jumped 22% to £14.22 since the start of 2018.