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

ASF UNVEILS TRAFFIC PLANS FOR THE SPIT

A SECOND bridge over the Nerang River is the centrepiece of the ASF Consortium's plan to improve traffic flow ...

BHP AND VALE EDGE CLOSER TO $47.5 BILLION SAMARCO DAM DISASTER SETTLEMENT

BHP Billiton (ASX: BHP) and Brazilian mining company Vale have entered into a preliminary agreement with Brazilian fe...

BLK SPORT FOUNDER TYRON BRANT REMAINS CEO UNDER NEW OWNERS

BLK Sport has been purchased from receivers McGrathNicol by a private consortium composed of a TimorLeste-based oi...

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

Related News

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter