Horizons BetaPro ups stake in Australian ETFs firm

By Staff | September 29, 2011 | Last updated on September 29, 2011
1 min read

BetaPro Management Inc., an affiliate of Horizons Exchange Traded Funds, has exercised its pre-emptive rights to increase its equity ownership stake in Australia’s BetaShares Holdings Pty Ltd.

The move gives BetaPro an additional 6.1% stake in BetaShares, at a cost of $2 million (AUD)

BetaShares is a private Australian holding company whose subsidiary, BetaShares Capital Limited, offers ETFs on the Australian Securities Exchange.

“The continued growth and success of the BetaShares ETFs on the Australian Exchange is very encouraging,” said Adam Felesky, chairman of Horizons ETFs. “Increasing our investment in BetaShares is one more positive step for Horizons ETFs in growing its global ETF presence.”

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