Wealth Defender IPO successful
Listed investment company Wealth Defender Equities Limited has achieved a successful capital raising of A$125.7 million, more than double the minimum target of A$50 million set out in the initial public offer prospectus.
Monday, May 18th 2015, 6:21PM
The company expects to be listed on ASX on May 21.
John Murray, Perennial Value founder and managing director, said the result indicated a validation of Wealth Defender’s investment strategy which aims to enhance long-term performance outcomes by allowing for participation in market upswings while looking to cushion losses during significant equity market downturns.
“Wealth Defender Equities is not another long-only equity LIC,” he said. “We expect it to provide direct equity investors with potential market upside, diversification and liquidity benefits coupled with the ‘cushioning’ attributes that make this LIC so unique.”
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