22 Oct 2018
Investec completes £822.5m IPO of Smithson Investment Trust plc
Investec Corporate and Institutional Banking (“Investec”) acted as sole broker and sponsor on Smithson Investment Trust plc’s £822.5m IPO, breaking the record for the largest UK investment trust launch
Smithson Investment Trust plc is a newly-incorporated investment trust that will invest in shares issued by small and mid sized companies on a long term, global basis. It is externally managed by Fundsmith LLP, a fund management group founded by Terry Smith.
Investec’s Darren Vickers commented:
“This is a record breaking IPO and we are proud to have supported Fundsmith and the Company through the launch process.”
Investec acted as sole broker and sponsor for the admission of the Company’s shares to the Premium segment of the Official List and to trading on the London Stock Exchange's Main Market. Investec also acted as intermediaries adviser for the launch, raising £152.4m from the retail investment platforms.
Investec worked closely with Fundsmith to guide the Company through its IPO, including the Company's decision to upsize the capital raise from an initial fundraising target of £250m.
Investec has a longstanding relationship with Fundsmith, having launched their other UK listed fund, Fundsmith Emerging Equities Trust plc (FEET) in 2014.
For more information, please contact:
Luke O’Mahony, Investec (Media) - +44 (0) 207 597 5261
Investec Corporate and Institutional Banking
Investec is a specialist bank that provides a diverse range of financial products and services to a niche client base in three principal markets: the United Kingdom, South Africa and Australia, as well as certain other countries.
This press release is issued on behalf of Investec Bank plc. Registered address: 30 Gresham Street, London, EC2V 7QP. (Reg No. 489604). Investec Specialist Bank is a brand name of Investec Bank plc, which is a member of the London Stock Exchange.
Investec Bank plc (Reg. no. 489604) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.