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Listed investment company advised on selling of 135m shares
Global firm Ashurst has advised BKI Investment Company on its $202 million equity capital raising.
Jerome Doraisamy
Firm: Ashurst (BKI Investment Company Limited); Allens (joint lead managers Evans Dixon Corporate Advisory).
Value: Up to approximately $202 million.
Area: Equity capital markets.
Key players: The Ashurst team was led by corporate partner Anton Harris.
Deal significance: In early May of this year, BKI announced an equity capital raising comprising of a non-renounceable pro rata entitlement offer to eligible shareholders at $1.50 per new share, to raise approximately $62.2 million.
If that wasn’t fully taken up, a shortfall offer would be made to the general public, including eligible shareholders who wanted additional value, at the same offer price. In addition, a general offer to the public was then made to raise up to approximately $140 million.
Ashurst said in a statement that: “the net proceeds from the offers will be used by BKI to expand its investment portfolio in accordance with its investment strategy”.
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly and HR Leader. He has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. In June 2024, he also assumed the editorship of HR Leader. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of the Minds Count Foundation.
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