Contango lists income generator company

Contango lists income generator company

Contango MicroCap has listed a new investment company on the ASX after it reached key fundraising milestones since its launch earlier this month.


Contango Income Generator’s (ASX:CIE) focus is to generate income combined with some capital growth by investing in a portfolio of quality ASX-listed securities, outside of the top 30, and largely in the mid-cap sectors of the market, according to statement by Contango.

The emphasis of the new investment company will be on entities with sound balance sheets, a consistent distribution team, low volatility, sustainable earnings and good prospects for growth, the statement added.

Its investment portfolio will be managed by Contango Asset Management.

“CIE’s investment profile and style has resonated with investors. Investors are looking for products that offer sustainable dividends in a lower yield environment,” said Contango MicroCap chairman Mark Kerr.

“Our investment team led by CIO George Boubouras has been working extremely closely with our joint lead managers to the offer in Evans & Partners Pty Ltd, Taylor Collision Limited, Wilson HTM Corporate Finance Ltd and Morgans Financial Limited and co-manager, Bell Direct.”

Income-focused investors will note a dividend policy with a commitment to pay a minimum of 6.5 per cent per annum of the company’s NTA value per share, the statement said.

 

Contango lists income generator company
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