Magellan Financial Group Limited (ASX: MFG) reported that Magellan High Conviction Trust indicatively raised $862 million, following the closure of the initial public offering.
- Magellan is expected to pay $55 million related to cost of the offer, loyalty units & IPO foundation units.
- Around 17k investor participated via Priority Offer, and 1,800 via General Public & Wholesale offer.
- Units to be allotted on 8 October 2019, and Magellan High Conviction Trust is expected to be quoted on ASX on 11 October 2019.
By 12:29 PM AEST, MFG was trading at $49.87, down by 1% relative to the last close.
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Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s
Those phrases have become increasingly common as marijuana legalization spreads.
Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.
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