Blackrock North American Income Trust PLC To Float On LSE-DJ
Dow Jones reported that Blackrock North American Income Trust PLC,a North American focused, equity income investment trust to be floated on the main market of the London Stock Exchange at GBP1 a share. BlackRock intends to raise in excess of GBP100 million for BlackRock North American Income Trust, or BRNAIT. Company will invest into a portfolio of predominantly U.S. cap quoted companies that exhibit the ability to grow dividends and will employ an active options overlay strategy using predominantly covered call options. BRNAIT will be managed by BlackRock's U.S. based equity income team which manages 37.2 billion dollars as at July 31 and is led by Bob Shearer and Kathleen Anderson. Company will make applications for admission to the premium segment of the Official List and to trading on the London Stock Exchange's main market for listed securities. Prospectus in connection with the Admission is expected to be available in mid September and Admission expected in October.
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