Blue Capital Global Reinsurance Fund issues $6.91m new shares


The London Stock Exchange listed, Montpelier Re operated, insurance linked investment fund the Blue Capital Global Reinsurance Fund, has issued more shares to investors to take advantage of demand.

According to a London Stock Exchange filing made this morning, the Blue Capital Management managed fund has issued 6,489,615 new ordinary shares at a price of $1.065 per share, raising just over $6.91m in proceeds.

Blue Capital said that the shares have been issued to satisfy market demand. It is possible that these may have been sold to investors which would have participated in a recent share placement which the firm had put on hold.

An application will be made for the 6,489,615 shares to be admitted to trading on the London Stock Exchange’s Specialist Fund Market and on the Bermuda Stock Exchange.

Following the admission of the newly issued shares, the total number of ordinary shares issued by the Blue Capital Global Reinsurance Fund will have risen to 179,617,766. At the latest share price, which this morning sits at $1.09 per share, the total assets of the reinsurance linked investment fund have now reached just over $195.78m.

It’s expected that Blue Capital will launch another share placement opportunity for investors later this year.

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