BIF - Potential material valuation increase for the fund

Booster Investment Management Limited (Booster) has announced that one of the businesses in its investment portfolio, the Booster Innovation Fund (BIF), has experienced a significant increase in demand for its product and intends to raise additional capital to fund its increased business activity.

As a result, Booster has undertaken a review of the carrying value of the investment, increasing it by $230,000, which represents an increase in the total Fund value of 2.15%.

Booster has stated that, should the business be successful at raising the level of capital required and at the indicative share price, there is potential for a further material increase in the value of the Fund.

Investors can purchase or sell units in BIF on the NZX, and any update to the business’s carrying value will be announced to the NZX.