By Michael Susin
Chrysalis Investments Ltd. said Wednesday it is planning to raise 125 million pounds ($166.3 million) via a share placing and will put the money toward new investment opportunities.
The London-listed investment company–managed by Jupiter Fund Management PLC–said it will place shares at 238 pence each, a 1.7% premium to the company’s net asset value of 234 pence a share Tuesday. The fundraising is part of the company’s 600-million-share placing program announced in March.
The company said it could readily invest up to GBP175 million of fresh capital to accelerate portfolio growth and to add new investments.
“The expected use of new funds is primarily to drive the performance of existing assets in current portfolio companies via certain follow-on investments. In addition, the current effective number of investments is at the bottom end of the investment adviser’s target range of 15 to 20, offering the opportunity to selectively add new holdings,” the company said.
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