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Mobius targets over £200M from investment trust IPO in London

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Mobius targets over £200M from investment trust IPO in London

Mobius Investment Trust PLC, the newly launched investment trust of Mobius Capital Partners LLP, has announced its intention to launch an IPO on the London Stock Exchange.

The company said it aims to raise in excess of £200 million via a placing, an offer for subscription and an intermediaries offer of its ordinary shares.

Mobius Capital Partners will act as the company's alternative investment fund manager. Its founding partners — Mark Mobius, Carlos Hardenberg and Greg Konieczny — along with employees plan to take part in the issue for an aggregate subscription amount of roughly £5.7 million.

An application has been made for the ordinary shares to be admitted to the premium segment of the Official List of the U.K. Listing Authority and to trading on the London Stock Exchange's main market for listed securities.

The latest date for applications for subscription to the offer is expected to be Sept. 25, with results due to be published the following day. Admission and dealings of the company's shares, meanwhile, is expected to commence Oct. 1.

Jefferies International Ltd. is acting as sponsor and sole global coordinator to Mobius Investment Trust in relation to the IPO. Scott Harris UK Ltd., a unit of Rothschild & Co, is acting as intermediaries offer adviser.

The investment trust, which focuses on small to mid-cap companies, will target a total return of between 12% and 15% per annum over the long term, it noted.