(Alliance News) - Merian Chrysalis Investment Co Ltd said Tuesday it has raised GBP175 million through a share placing, above its minimum target of GBP100 million announced on Friday.
The investment firm issued 145.8 million shares at a price of 120 pence per share, a 2.0% discount to Merian's closing price on Friday at 122.50p.
Shares in Merian were down 1.8% to 120.29p on Tuesday in London.
Proceeds will be used by the company towards acquiring additional interest in several existing portfolio holdings.
Liberum Capital Ltd and Zeus Capital Ltd acted as joint bookrunners on the placing.
"We're thrilled by the enthusiasm among investors for access to Merian Chrysalis and are delighted by the response to this placing. We have an exciting pipeline of high-growth, unquoted businesses and are confident that we will quickly deploy the new capital. Further, by acquiring additional shares in existing holdings, investors are set to benefit from a well-balanced portfolio, as well as the continuation of a sufficient level of full investment," said Portfolio Manager Richard Watts.
Merian Chrysalis Investments now has 336.7 million shares issued overall.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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