UK-based New Star Asset Management has raised £25m (€40.3m) through a share issue to finance possible future acquisitions.

At the issue price, and including the new shares to be issued, New Star is valued at £267m. The purpose of the new issue is to enable the firm to go ahead quickly with one or more medium-sized acquisitions, should suitable opportunities arise. New Star anticipates that the  acquisitions would be paid through a combination of the firm's shares and cash.

New Star raises £25m for future acquisitions

Pirkko Juntunen

Jupiter Asset Management

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