WAM Global Ltd (ASX:WGB) is now accepting oversubscriptions of up to $220 million after it exceeded the $330 million mark for its initial public offering (IPO).
The listed investment company (LIC) is set to close the broker firm offer this Friday ahead of its debut on the ASX.
Part of the Wilson Asset Management family
Funds raised under the WAM Global IPO will be managed by investment manager Wilson Asset Management, which has a 20-year track record.
Wilson Asset Management is the investment manager for six leading listed investment companies; WAM Capital Ltd (ASX:WAM), WAM Leaders Ltd (ASX:WLE), WAM Microcap Ltd (ASX:WMI), WAM Research Ltd (ASX:WAX), WAM Active Ltd (ASX:WAA) and Century Australia Ltd (ASX:CYA).
Through these LICs, Wilson Asset Management invests more than $3 billion on behalf of more than 55,000 retail investors.
WAM Global will have an international focus
WAM Global’s investment objectives are to provide capital growth over the medium-to-long term, deliver a stream of fully franked dividends and preserve capital while providing shareholders with exposure to global equities.
It will focus on undervalued international growth companies with a bias to small-medium sized entities, utilise a portfolio based and index unaware investment methodology and preserve shareholders’ capital.
Timetable expected ASX listing on 22 June
Upcoming important dates for the offer include:
• Broker firm offer expected to close - 1 June 2018;
• Priority and general offer expected to close - 8 June 2018; and
• WAM Global shares expected to list on ASX - 22 June 2018.