Investments, LICs

New LIC brings emerging, unlisted opportunity

LIC emerging companies

A new listed investment company aims to give investors access to emerging and unlisted companies that have performed strongly in the past year.

A new listed investment company (LIC) set to launch via an initial public offering (IPO) will aim to provide investors with access to Australian and international emerging and unlisted companies.

The Salter Brothers Emerging Companies LIC – to be launched and managed by specialist funds management firm Salter Brothers Group – is aiming to raise up to a maximum of $20 million and will allow investors to buy between 2000 and 20 million shares at an offer price of $1.00 per share.

The LIC, which will hold a concentrated portfolio of 20 to 35 investee companies, will be actively managed with a focus on capital preservation and compositionally different to that of the Australian Securities Exchange (ASX) Small Ordinaries Accumulation Index.

Salter Brothers Emerging Companies chair John Vatovec said the LIC will leverage the resources of the broader Salter Brothers Group, which has a strong history of investing and currently manages more than $2 billion in assets across property, private equity and credit.

“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,” Vatovec said.

The IPO is currently open and will close on 21 May, and the LIC is expected to list on the ASX on 8 June. Upon listing, it is expected to have holdings worth an estimated $100 million.

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