Burford Capital (BUR) has raised around £193m through a placing of 10.4m shares at 1,850p a pop, equivalent to 5 per cent of the issued share capital. The placing was oversubscribed and is the first such fundraising since 2010.
The funds will be used to finance what Burford sees as significant opportunities offered by litigation finance, and the business will be expanded to extend its geographical reach to such countries as Australia and Germany. It is also exploring the development of new products that will make use of some of its core expertise in legal finance.
