News: Glennon Small Companies seeks up to $50M under IPO

Glennon Small Companies Limited is raising up to $50 million through an initial public offering priced at $1.00 to invest in listed companies outside of the S&P/ASX 100.

The offer has a minimum subscription of $16 million with investors receiving an option exercisable at $1.00 at any time prior to the first anniversary of the issue date for each share subscribed.

Investments will be managed by Glennon Capital Pty Limited, a specialist small company investment manager founded in 2008.

It has historically offered its services to institutional and high net worth individuals and has established a track record of successfully investing in ASX listed smaller companies.

Glennon will offer investors a diversified portfolio of smaller companies that may be undervalued because of pricing inefficiencies due to the lack of readily available market analysis and research.

It is committed to discovering undervalued smaller listed companies by undertaking a thorough research process.

The company will list as GC1 on the ASX.

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