Magellan Financial Raised $862 million for a New Trust

  • Oct 03, 2019 AEST
  • Team Kalkine

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.

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK