26th Sep 2018 13:12
LONDON (Alliance News) - Mobius Investment Trust PLC said on Wednesday it has raised gross proceeds of GBP100 million through its initial public offering of 100.0 million shares at a price of 100 pence per share.
Mobius Investment Trust will list on the London Main Market on Monday next week.
Earlier in September, the company said it was seeking to raise "in excess" of GBP200 million.
The investment company will focus on a "highly specialised single strategy" centered a "high conviction" of 20 to 30 small and mid-cap companies across emerging and frontier markets.
Mobius is targeting a total return of between 12% and 15% per annum and it expects dividends to "become a meaningful component of the total return".
Jefferies International Ltd acted as sponsor and sole global coordinator, while Scott Harris UK Ltd acted as intermediaries offer advisor.
"We are encouraged by the positive response from a broad range of institutional and retail investors to our initial public offering. The board and I look forward to working closely with the highly experienced investment team at Mobius Capital Partners," Chairman Maria Luisa Cicognani.
Related Shares:
Mobius Investm.