News: Ellerston Asian Investments seeks $75 million under IPO

Ellerston Asian Investment is raising up to $75 million through an initial public offering priced at $1 per share to invest in Asian companies that are high growth and valued at a reasonable price.

The offer has a minimum subscription of $35 million and the right to accept oversubscriptions to raise up to an additional $25 million.

Manager Ellerston Capital Limited, is a specialist funds manager that was founded in 2004 and has approximately $4 billion in funds under management as at 30 June 2015.

Adding interest, the company plans to issue one loyalty option for every two shares subscribed under the general broker firm offer and on a two-for-three basis under the priority option.

Each loyalty option is exercisable at $1.00 until 5.00pm (Sydney time) on the third anniversary of the vesting date.

The Manager proposes, over an initial period of up to three months to construct a relatively concentrated portfolio targeting between 20 and 40 Asian Equity Securities.

Ellerston Asian Investment seeks to trade as EAI.

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