Chrysalis £300m initial issue surpasses expectations

Target beaten by £60m

Chrysalis investment trust's initial issue has exceeded its target of £240m, reaching the £300m stated maximum of this round of fundraising.

The trust has applied for 146.3 million new ordinary shares to be admitted to the premium segment of the official list of the Financial Conduct Authority and to begin trading on the main market of the London Stock Exchange, the limit set out by the board in its announcement. From evolution to revolution: Investment trust sector urged to grow in order to 'stay relevant' Well received by new and existing investors, 35.3 million ordinary shares will be issued pursuant to the open offer, which allowed investors one new share for every five existing shares, while 7.6 million ordinary share...