Prospect IPO fundraising cut by 40%

Prospect Partners, a US buy-out firm, has floated its Business Development Company under the name Prospect Energy Corporation on Nasdaq, but raised only 60% of what was originally expected.

It had been thought Prospect aimed to raise $180m (€150m) through the sale of 12 million shares at $15 each. It maintained the price, but cut the share sale to seven million raising $105m.

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