Ceres intends to raise up to $250m through a series of offers of new ordinary shares, to be issued by way of a placing.
The Guernsey-domiciled, closed-ended investment company invests in an actively managed portfolio of primarily exchange-traded agricultural commodity contracts and derivatives plus other agricultural commodity related investments. It is managed by Fourwinds Capital Management. The offers will take place in the period from January 2009 until November 2009. Growing the company and enhancing prospects for liquidity for shareholders are the company's primary rationale for the placing. Enlarging the company will also spread the fixed costs of operating the company across a larger amount of as...
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