Global equity investment firm, Antipodes Global Investment Company (APL), has official opened today to Australian and New Zealand retail investors, via its initial public offering (IPO).
The company, managed by Antipodes Partners Limited, was seeking to raise up to $220 million via its IPO, but it had the ability to accept an additional $110 million in oversubscriptions, the firm said.
The IPO had an issue price of $1.10 per share and investors would also receive one option for every share issued (under the IPO).
Retail investors would have access to a long-short global security investment portfolio with active currency management. APL was also based in Antipodes Partners’ managed fund, the Antipodes Global Fund, which provided a 7.4 per cent net return last year.
APL found that the fund also significantly outperformed the MSCI All Country World Net Index and ranked second out of a pool of 54 global equity funds, based on Morningstar’s institutional sector survey (June 2016).
Antipodes Partners’ chief investment officer (CIO) and lead portfolio manager, Jacob Mitchell, said as Australian retail investors were traditionally weighted towards Australian-domiciled investments, APL offered investors much needed diversification with easy access to global markets.
APL also held a ‘recommended’ rating from Lonsec.
The IPO opened today with general offers set to close on 30 September 2016. APL was also expected to list on 14 October 2016.
