SYDNEY, AUSTRALIA: Cadence Opportunities Fund intends an initial public offering (IPO) on Australian Securities Exchange (ASX) offering for subscription fully paid ordinary shares to raise up to $52 million.
Cadence Opportunities Fund shares are expected to commence trading at ASX from November 19, 2021.
The offer includes a priority allocation to eligible participants of up to 50% of the total number of shares to be issued under the offer.
The issue price was $2.7716, which was the NTA mid-point as at 31 October 2021.
Cadence Opportunities Fund Limited is an investment company, currently with approximately 200 shareholders. It has been operating as an unlisted investment company since January 2019.
Since the Company commenced operation in January 2019 as an investment company, it has produced returns that have significantly outperformed the All Ordinaries Accumulation Index, whilst having average exposure to the market of 81.8%.
As at 31 August 2021 the company’s portfolio has returned 59.1% per annum over 2.7 years compared to the S&P/ASX All Ordinaries Accumulation Index which has returned 16.2% per annum over the same period.