BlueCrest BlueTrend Limited has raised gross proceeds of approximately GBP165 million by means of a placing and offer of Shares.
The Company has applied for admission of its shares to listing on the premium listing segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange (Admission), which is expected to take place on 23 March 2012.
Subject to Admission, the Company has raised gross proceeds of approximately £165 million. The issue is expected to comprise 105,206,017 Sterling Shares and 94,973,308 US$ Shares
Following Admission, the Shares will be traded under the ticker symbols: Sterling Shares – BBTS (ISIN: GG00B7MSX903); USD Shares – BBTU (ISIN: GG00B73CPL70).
The total number of voting rights in the Company following Admission will be 200,179,325
The company will provide access to the BlueTrend programme, primarily through an investment in BlueTrend Fund Limited (BlueTrend), BlueCrest Capital Management’s systematic trend-following fund. Although not part of BlueTrend’s formal investment objective, the BlueCrest group manages BlueTrend with a current target annualised return (net of fees) in the range of 15 to 20 per cent1.
BlueTrend trades in over 150 markets globally across a number of key asset classes including currencies, commodities, fixed income and equity indices. It has achieved an annualised return of 16.58 per cent since February 20052.
Wayne Bulpitt (pictured), Chairman of the Company, says: "We are delighted by the response of a broad range of investors to this offering. Over 60 investors have participated which we believe demonstrates a wide ranging interest in the Company and obtaining access to BlueCrest’s systematic trend-following fund. The inclusion of the BlueTrend strategy for portfolio diversification provides for the Company to be a core holding for investors and we expect the Company to attract continued interest."
Dexion Capital plc acted as sole placing agent and financial adviser to the Company.