LONDON: Cabot Square Alternatives PLC has expressed intention to seek admission to the premium listing category of the Official List and to trading on the Main Market of the London Stock Exchange (LSE) through an initial public offering (IPO).
As part of the IPO, the Company is seeking to raise £200 million, by way of an Initial Placing and an Offer for Subscription and Intermediaries Offer of Ordinary Shares at an issue price of £1.00 per Ordinary Share.
In addition, the Company also announces, pursuant to the Prospectus, the establishing of a placing programme that will allow the Company to issue up to 500 million Ordinary Shares and/or C Shares in aggregate (out of which the Company can issue a maximum of 250 million Ordinary Shares under the Initial Issue).
The Company is managed by Cabot Square Capital LLP (Investment Manager), which will be advised by Cabot Square Alternatives Adviser LLP (Investment Adviser) and will provide a new model for investors to access returns from the alternatives sector. In addition to delivering the target returns, the Company will target investment opportunities that can make a positive ESG impact.
Cantor Fitzgerald Europe is acting as sole Bookrunner, with Kepler Partners LLP acting as Intermediaries Offer Adviser and BDO LLP is acting as Sponsor in connection with the Initial Issue and Initial Admission.
The Company has already received non-binding commitments of approximately £40 million from 3 investors at this early stage of the process.
The Investment Manager and the Investment Adviser have indicated to the Company that members of their respective teams and affiliates intend to subscribe for 500,000 Ordinary Shares at the Issue Price and the Directors of the Company intend to subscribe for 125,000 Ordinary Shares.
Keith Maddin, Fund Manager and Partner Cabot Square Capital LLP, commented: “ALTS represents a new model for investors to access returns from investing directly in attractive infrastructure and property Alternative Assets as well as share in the value creation of specialist Alternative Asset Managers by building Alternative Asset Platforms. In addition to delivering target returns we will also focus investment on making a positive ESG impact”.
Charlie Rickets, Chairman of Cabot Square Alternatives PLC, said: “We are delighted to announce our intention to launch ALTS and believe that our management team has the experience and expertise to deliver the target returns. Given our pipeline we expect to deploy the IPO proceeds efficiently and effectively”.
Ashoka WhiteOak Emerging Markets Trust announces £100mn IPO on London Stock Exchange
EuroGroup Laminations lists on Euronext Milan at IPO price of €5.5 per share