BLUE SKY'S FIRST STAGE RAISES $45 MILLION

Written on the 13 May 2016 by Brisbane Business News

BLUE SKY'S FIRST STAGE RAISES $45 MILLION CLOSING off the first stage of its capital raising this morning, Blue Sky Alternative Investments (ASX: BLA) has raised around $45.15 million in two days.

Blue Sky Alternative Investments' accelerated entitlement offer and placement, which placed the company in a trading halt from Wednesday morning, received strong support and was heavily oversubscribed.

The placement of approximately 4.62 million new ordinary shares to institutional, professional and sophisticated investors completed to raise approximately $30 million.

The next stage of the equity raising - a retail entitlement offer - opens next Wednesday 18 May. This stage will be fully underwritten by Ord Minnett and Morgans.

All eligible shareholders will be able to participate in the second stage of the capital raising, a one for 10 non-renounceable entitlement offer to raise a further $21.7 million.

Shares under the placement and accelerated entitlement offer have been offered at $6.50, a 9 per cent discount on Tuesday's closing price of $7.16.

Blue Sky Alternative Investments tells the market it will use the funds for ongoing co-investment in its managed funds and to demonstrate balance sheet scale to enhance conversion of potential institutional mandates.

The company's assets include direct investment in private equity, real estate, infrastructure, hedge funds and other real assets.

Blue Sky Alternative Investments listed on the ASX in January 2012 with a market capitalisation of $33 million, which has since grown to approximately $400 million.

Pictured: Blue Sky Alternative Investments founder and managing director Mark Sowerby.


Author: Brisbane Business News Connect via: Twitter

Latest News

BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR

COAL loading has recommenced at New Hope's (ASX: NHC) Brisbane terminal today after repairs to its ship loader, w...

SUPERYACHTS OFFER UNTAPPED POTENTIAL AT COMMONWEALTH GAMES

SUPERYACHT Australia has devised a strategy to attract more superyachts to Queensland and capitalise on revenue op...

GDP FIGURES A 'WAKEUP CALL' FOR PARLIAMENT

THE GDP figures are an end-of-year wakeup call for Parliament about what lies ahead for the country, according to ...

ACCC GIVES GO-AHEAD FOR NEWS CORP TO BUY ARM

NEWS Corporation (ASX: NWS) has been given the green light to acquire Australian Regional Media (ARM) from APN New...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter