Merian Chrysalis Investment Co Ltd - London-based investor in later stage private companies - Plans to raise GBP50 million via share placing priced at 148 pence each. In conjunction with the placing, there will be an offer made on the PrimaryBid platform of additional new ordinary shares at the same price. Says funds to be deployed into potential new investment. "The target is profitable and will provide diversification of holdings into a new industry vertical that the company's investment portfolio is not currently exposed to. As a result, the investment adviser believes it would be a highly complementary addition to the portfolio. Subject to successful completion of the investment process, the target would also allow rapid deployment of a substantial portion of the net proceeds of the placing," says Merian.
Current stock price: 149.50 pence
Year-to-date change: up 22%
By Lucy Heming;Â lucyheming@alliancenews.com
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