Magellan Global Trust raises $1.55bn

Magellan Global Trust raises $1.55bn

Magellan’s IPO of its new listed investment company, the Magellan Global Trust, has indicatively raised $1.55 billion.


The Magellan Global Trust IPO has closed after raising $1.55 billion from new and existing investors.

The estimated cost of the offer, which will be paid for by Magellan, is approximately $84 million before tax and net of recoverable GST.

Units offered under the priority offer are expected to be allotted on Thursday, 12 October 2017, and units offered under the broker firm and general public offers will be allotted the next day.

The Magellan Global Trust is expected to begin trading on the ASX on Wednesday, 18 October 2017.

Magellan’s executive chairman Brett Cairns said, "We are very pleased with the significant support Magellan has received from both new and existing investors. This has been an important offering for our firm and we are delighted with the results."

Taylor Collison acted as the lead arranger to the broker firm and general public offer. CommSec, NAB and Ord Minnett acted as joint lead managers.

 

 

Magellan Global Trust raises $1.55bn
Magellan Global Trust, Magellan
ID logo
promoted stories

Appointments

Blake Briggs

FSC loses two senior policy managers

Tim Stewart

John Patrick Moorhead

AMP Capital appoints new CFO

Staff Reporter

Phoebe Ieong

BNY Mellon appoints head of distribution, APAC

Staff Reporter

Analysis

Doug Morris

What a blockchain-powered ASX should mean

Doug Morris

Lucy O’Carroll

Separating the signals from the noise

Lucy O’Carroll

Dan Bosscher

Could passive investing have structural issues?

Dan Bosscher