LONDON (Alliance News) - BioPharma Credit PLC said Friday it intends to raise USD150 million via share placing.
The company will issue 146.3 million shares at USD1.025 per share, representing a 2.9% premium to its net asset value per share at September 30 of USD1.0141.
Biopharma shares were trading down 2.3% at USD1.05 each.
The company will use the net proceeds from the fundraise to acquire further investments in accordance with the its investment policy.
"In line with the company's intentions, the net proceeds will allow it to create an increasingly diversified portfolio for investors by continuing to invest across a range of different forms of debt assets issued by a variety of borrowers," the firm added.
In a separate announcement on Friday, BioPharma declared an interim dividend of USD0.017 in respect of the financial period ended September 30.
Biopharma Cred. (BPCR)