UK - SVG rights issue raises £100m

Approximately 74 million of the 139 million rights issue shares, which were offered at a price of 100 pence per share, were subscribed to by shareholders, with sub-underwriting commitments being procured for an additional 26 million shares. JP Morgan Cazenove, which is underwriting the rights issue, will continue to seek subscribers for the remaining 39 million shares.

In addition to the private placing that was also launched in December, which was closed last month and saw Coller Capital invest £50m into the business, SVG has raised £170m in the three months since it requested a reduction in draw downs from its primary investee firm Permira in November.

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