Melbourne, 13 May 2021 – Salter Brothers Emerging Companies Ltd, a new listed investment company (LIC), has launched an Initial Public Offering (“IPO”, “the Offer”).
The Offer seeks to raise up to a maximum of $20.0 million through the issue of up to 20 million shares at an offer price of $1.00 per share. The minimum subscription is 2,000 shares.
Participating in the Offer will provide investors access to an experienced investment manager with a portfolio of investments in listed and unlisted Australian and international emerging companies, with a market capitalisation of under $500 million.
The management and investment team of Salter Brothers Emerging Companies Ltd has extensive experience investing in both listed and unlisted companies in Australia and overseas, and is seeking to provide investors with attractive risk-adjusted returns and capital growth and income over the long term.
”Salter Brothers Emerging Companies Ltd provides investors with an opportunity to access not only listed emerging companies which have performed strongly over the past year, but also unlisted companies that they may not otherwise be able to access directly,” says Salter Brothers Emerging Companies Ltd’s Chairperson, John Vatovec.
Salter Brothers Emerging Companies Ltd’s investment portfolio will comprise a concentrated portfolio of 20 to 35 investee companies and will be actively managed. A disciplined investment process with a focus on capital preservation, will see the Investment Manager focus on a portfolio of Emerging Companies which will be compositionally different to that of the ASX-Small Ordinaries Accumulation Index.
The Company upon listing on the Australian Securities Exchange is expected to have a market capitalisation approaching $100 million.
Salter Brothers Emerging Companies Ltd will leverage the people, resources and relationships of the broader Salter Brothers Group which manages c.$2 billion in assets across property, credit and private equity. Salter Brothers Group has a track record of acquiring and adding value to specialist property assets and investing in selected growth businesses.
To participate in the IPO
The Offer is being made under a prospectus lodged with ASIC on 28 April 2021 (Prospectus) and is available at https://salterbrothersemergingcompanies.com.au/.
Applications under the Offer can be made by completing the application form attached to the Prospectus or online via the Computershare offer website and the application form accompanying the Prospectus at https://salteroffer.thereachagency.com.
The Lead Manager of the Offer is Ord Minnett.
Proposed Key Dates
|Offer Opens||12 May 2021|
|Offer Closes||28 May 2021|
|Issue of Shares under the Offer||3 June 2021|
|Expected ASX Listing||10 June 2021|
T: +61 3 9258 2100
T: +61 3 9258 2100
About Salter Brothers Emerging Companies Ltd
Salter Brothers Emerging Companies Ltd (ASX: SB2) is a listed investment company with an investment portfolio focused on Emerging Companies which are predominantly Australian listed and unlisted securities with market capitalisations under $500 million. The Company’s investment portfolio will be managed by Salter Brothers Funds Management Pty Ltd, a corporate authorised representative of Salter Brothers Asset Management (AFSL number 308971. The Manager was founded in 2015.