BH Macro Ltd on Monday said it has raised £315 million through an initial placing, intermediaries offer and subscription offer.

The Guernsey-based close-ended investment company said 72.3 million new sterling shares and 746,400 US dollar shares will be issued at 431.5 pence per sterling share and $4.47 per dollar share.

BH Macro said the proceeds of the fundraising will be invested in Brevan Howard Master Fund Ltd, in line with the company’s investment policy.

The company said the placing will consist of 56.1 million sterling shares and 604,881 dollar shares, while the intermediaries offer will see the issue of 1.0 million sterling shares and no dollar shares, and the subscription offer will constitute 15.3 million sterling shares and 141,519 dollar shares.

The firm noted that admission of the shares to the Main Market of the London Stock Exchange is expected to take place on Wednesday.

BH Macro said the issue will bring the company’s total issued capital to 374.2 million sterling shares and 29.0 million US dollar shares.

BH Macro shares were up 1.8% trading at 441.85 pence per share on Monday morning in London.

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