Deal: Ashurst has acted as Australian legal advisor to BKI in relation to its offer of up to approximately 134,840,599 new fully ordinary shares to raise over $200 million by way of an entitlement offer, shortfall offer and general offer.
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”.