(Alliance News) - Merian Chrysalis Investment Co Ltd on Wednesday said it has seen a positive response to its previously announced fundraising from a number of "high quality" institutional and private investors.
As a result, Merian has priced the share placing at 120 pence per share. The placing price represents a discount of 4% to the closing mid-price on Tuesday of 125p per share and a 8% premium to the last reported net asset value per share of the Company as at June 30.
London-listed shares in the investment company were untraded at 127.00p each on Wednesday afternoon.
The final number of new shares will be agreed between the company and placing manager Liberum Capital Ltd following the close of the share placing. Zeus Capital Ltd also is serving as a bookrunner for the placing.
Earlier in September, the company said it was looking to raise at least GBP100 million through a placing for new and existing investments.
Proceeds from the fundraise will go towards new investments within Merian's pipeline, as well as into some of its existing holdings, expecting to produce a larger and more balanced portfolio for Merian, the company said.
Merian's most recent placing under the programme was in April, where it raised GBP100 million through the issue of 90.9 million shares at 110 pence each.