By Cecilia Butini

Forward Partners Group PLC said Monday that it intends to seek admission for its shares on the London Stock Exchange's market AIM.

The company said BlackRock Inc. and Draper Esprit PLC have said they would like to subscribe for 15 million pounds ($20.7 million) and GBP2 million worth of ordinary shares in the company, respectively.

Forward Partners said it expects to raise at least GBP25 million of gross primary proceeds, which will be used to fund further investments in portfolio companies as well as new investments. Admission and commencement of dealings on AIM are expected mid-July, and the ticker will be FWD, the company said.

It also said that two new, independent nonexecutive directors will be appointed to the board of directors upon admission. They are Susanne Given and Christopher Smith.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

July 05, 2021 03:22 ET (07:22 GMT)

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