10th Nov 2020 13:01
(Alliance News) -Â Schroder British Opportunities Trust PLC on Tuesday said it intends to float on the Main Market of the London Stock Exchange.
"Covid-19 and other macro factors are having a dramatic effect on many UK companies and the company anticipates an increased need by UK companies for fresh equity and believes that a proactive public and private equity investment strategy can provide access to positive returns through participation in capital raising opportunities," said Schroder British.
The firm added that it believes there is a "once in a generation" opportunity to invest into high quality, high growth UK companies in the GBP50 million to GBP2 billion value range with sustainable business models at "attractive" valuations.
Schroder British said it is seeking to raise up to GBP250 million via a placing, offer for subscription and intermediaries offer of shares.
Rory Bateman, head of Equities at Schroders PLC, and Tim Creed, head of UK & European Private Equity, will manage the portfolio.
The board will be chaired by Neil England, formerly chair of BlackRock Emerging Europe PLC and current chairman of Augmentum Fintech PLC.
"Recent events have created investment opportunities in a number of quality companies with high growth potential and additionally we believe that many UK businesses are currently mispriced. Several of these companies have already been identified as candidates for early investment," said England.
Peel Hunt LLP is acting as sole sponsor, placing agent and intermediaries offer adviser to Schroder British, and will be the company's corporate broker.
Schroder British expects to being trading in London at the start of December.
By Lucy Heming;Â [email protected]
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