20th Sep 2019 14:38
(Alliance News) - Merian Chrysalis Investment Co Ltd on Friday said it expects to raise "well in excess of GBP100 million" from its share placing.
Liberum Capital Ltd and Zeus Capital Ltd will act as joint bookrunners on the placing, which is priced at 120 pence per share and is set to close on Monday.
Shares in Merian Chrysalis Investment were down 1.6% at 122.04 pence in London on Friday afternoon.
The final number of new shares issued will be determined by Merian Chrysalis Investment and Liberum once the placing closes. The shares will likely then be issued on Thursday next week.
Earlier in September, the company said it was looking to raise at least GBP100 million. It has now received more than GBP100 million of indicative orders "from a wide range of high-quality institutional and other investors". As such, it "expects the final funds raised under the placing to be well in excess of GBP100 million".
Proceeds from the fundraise will contribute to new investments within the firm's pipeline, as well as existing holdings, and is hoped to produce a larger and more balanced portfolio.
Related Shares:
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