The money raised from issuing 200 million shares at 50 pence a time is to be used as seed capital in new product launches, Aberdeen said.
“In line with Aberdeen’s strategy to diversify our range of capabilities and solutions for the evolving investment environment, we have raised £100 million through a Preference Share issue to provide additional capital to seed new products,” said Martin Gilbert, chief executive.
“Last year’s acquisition of Scottish Widows Investment Partnership has provided us with a broader range of capabilities, which we aim to develop further,” he added. To do this effectively it is important we support new fund launches with seed money, demonstrating our commitment to them.”
While the shares do not offer voting rights they will be eligible for a 5% annual dividend payment.
A general meeting to approve the issuance is set for Monday 6 July 2015.
