Hardman & Co Research: Burford Capital (BUR): Equity issue ensures growth is not adjourned

Hardman & Co: Equity issue ensures growth is not adjourned

Burford has placed 10.41m new shares with institutional investors through an accelerated bookbuild. The price per share was 1850p, making a total of £192.6m ($251.2m) raised before expenses. The funding will be applied to business expansion, with new geographies such as parts of the United States that have not been fully addressed yet, Australia and Germany specifically mentioned as well as adding to the team in existing locations. The announcement also mentions new products, which have been the topic of recent press releases, and it is clear that Burford has every intention of pushing its growth further.

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