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Aberdeen looks to expand income trust

Aberdeen Asset Managers aims to double the size of its Abtrust New Preferred Income investment trust to £137m by raising £64m with a new share offer.

Money will be raised for the split-capital investment trust by placing an £11m tranche of Abtrust NewPref RPI-linked debenture stock at 108p a unit share and a three-for-two open share offer at 145p. The trust is also expected to increase bank borrowing by about £10m.

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