26th Mar 2021 09:39
(Alliance News) - Chrysalis Investments Ltd on Friday said it boosted the size of a share placing due to strong demand.
Chrysalis raised GBP300 million through an open offer, subscription, intermediaries offer and placing.
The company initially planned to raise roughly GBP240 million. Shares were sold at 205 pence each.
Shares were 2.2% lower at 199.49p each in London on Friday morning.
"The board, taking into account the strength of the company's near term investment pipeline and investor demand, determined to upscale the size of the initial issue to the stated maximum of GBP300 million from the initial target of GBP240 million," Chrysalis said.
Chrysalis earlier in March said the fundraising programme would consist of 80.2 million shares for existing shareholders and 36.6 million shares through a placing, 116.8 million in total. This would have secured it the GBP240 million, though the company at the time said it reserved the right to upsize the equity issue to 146.3 million shares, boosting the fundraise to GBP300 million.
Chrysalis is managed by Jupiter Asset Management. It seeks long-term capital growth through investing in public and private companies.
By Eric Cunha; [email protected]
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