Marfin Investment Group has amassed the world’s biggest listed investment fund, after raising €5.19 billion ($7.07 billion) for its debut vehicle via a rights issue.
The Greek firm completed its fundraising ahead of schedule, raising the record sum in just three weeks. The total includes a large investment from Dubai Financial, plus further contriubtions from wealthy Greek investors and “top tier financial institutions”, according to a source close to the firm.
MIG said it had issued 774,660,278 shares at a subscription price of €6.70 per share, making the total size of the offering about €5.19 billion.
The vehicle, which is also the largest rights issue in Greek history, plans to invest the money in Greece and the surrounding countries of south-east Europe.
Shares in the vehicle will begin trading on 19 July. A source said the firm had considered bringing the date forward, given the speed of the fundraising, but ultimately decided against it.
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