1st Dec 2021 11:35
(Alliance News) - Chrysalis Investments Ltd on Wednesday said it plans to raise between GBP125 million and GBP175 million through a capital raise, from which the proceeds will go towards boosting the performance of existing assets through follow-on investments.
The company, which invests in technology and finance startups, will issue shares through a placing at a price of 238 pence per share, reflecting a 1.7% premium to its net asset value per share at the end of November at 234p.
Shares in Chrysalis Investments were flat at 238.00 pence on Wednesday in London.
Chrysalis will also raise funds through a retail offer at the same issue price.
In particular, the company has already identified two near-term opportunities to deploy follow-on capital, which could take place in early 2022. In addition, Chrysalis will use the proceeds to also enlarge its portfolio, in line with the investment adviser's target of 15 to 20 assets.
Currently, the company holds 17 assets, however, one such assets, investment and retirement platform Embark, is in the final stages of liquidation.
Liberum Capital Ltd and Numis Securities Ltd will act as joint bookrunners for the placing.
By Dayo Laniyan; [email protected]
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