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Blue Sky raises $45 million in first stage of capital raising

16 May 2016
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Blue Sky Alternative Investments Limited has successfully raised $45.1 million through a placement and the accelerated component of a one for ten entitlement offer to professional and sophisticated investors.

This first stage of Blue Sky’s capital raising was heavily over-subscribed. All eligible shareholders will now 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. This second stage of the raise has been fully underwritten by Ord Minnett and Morgans, who are acting as Joint Lead Managers to the capital raise.

Blue Sky 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.

Shares under the placement and entitlement offer have been offered at an issue price of $6.50, a discount of approximately nine per cent to the closing price of $7.16 on Tuesday 10 May 2016, the company’s last day of trading prior to going into a trading halt.

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