BetaPro Management Inc., the manager of the Horizons BetaPro exchange traded funds, is increasing its stake in Australia’s BetaShares Holdings Pty Ltd., the Toronto-based company said Thursday.

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

BetaPro has exercised its pre-emptive rights to subscribe for one Class A share of BetaShares for a subscription price of AUS$2 million

The Class A Share is convertible into BetaShares ordinary shares on December 31, and will result in BetaPro increasing its ownership of BetaShares total equity by between 5.1% and 6.1%.

The additional shares of BetaShares are sufficient to bring BetaPro’s equity holdings of BetaShares to 50%.

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

BetaPro is a subsidiary of Toronto-based Jovian Capital Corp. (TSX:JOV).

IE