Standing share offers

A company that sells its own shares continuously, such as an investment company issuing shares at its NAV per share, runs a standing share offer rather than a raise. It is set up from Raises with Set up a standing offer, and stays open for as long as the company takes money, always to wholesale investors only. There is no target, lead or term sheet: Offer settings takes the minimum application, the share class the offer issues, and the issue dates with their application cut-offs. Investors apply for an issue date, sign the company's own application form, and pay once the company accepts. On the Issues screen, the company enters the NAV per share for the date, sees what each ready applicant gets in whole shares and any money owed back to them, and chooses Issue shares: the shares go onto the company's register with a certificate each, and the board resolution and Form 484 are drafted, as a raise's close pack does. The company's register, certificates and compliance stay where they always are.