360 Capital Enhanced Income Fund (ASX:TCF) has launched a capital raise.

360 Capital Enhanced Income Fund (ASX:TCF) has launched a capital raise as part of its strategy to diversify and grow its loan portfolio. The proposed capital raise will be a 1 for 1 pro-rata, non-renounceable entitlement offer of new ordinary units to raise approximately $20.52 million.

When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.

More often than not, the shares are sold at a discount to the company?s share price at the time to entice new and existing investors.

Following the announcement shares of 360 Capital Enhanced Income Fund traded flat.