PrimaryBid was pleased to support Beazley plc during the second-largest UK placing in 2022.
A total of 60,403,895 Placing Shares were placed at a price of 575 pence per New Ordinary Share. Retail investors were able to subscribe to the offer at the same price via PrimaryBid for a total of 529,036 Retail Offer Shares.
In aggregate, the Capital Raise represents approximately 9.99% of the Company's issued ordinary share capital and raised gross proceeds of approximately £350 million.
This was the first deal executed following publication of the new Pre-Emption Group Statement of Principles, including post-deal disclosure outlining how retail investor inclusion was achieved. This sets the standard for best practice for retail inclusion and disclosure going forward.
Sally Lake, CFO of Beazley, said:
"We were delighted to provide retail investors with the opportunity to participate in our recent capital raise, in line with the Pre Emption Group's newly-updated principles. Delivering retail inclusion is part of Beazley's ongoing commitment to strong corporate governance, and we recognise our role as the first FTSE 250 company to raise capital under this new regime."
This UK deal was only available to investors in the UK.