Forbes – CMA Global Hedge, a fund of hedge funds, said it raised 402 mln usd through its initial public offering, the second-biggest stock market flotation by a financialservices company in the UK so far this year after Standard Life.
The proceeds, which are equivalent to the group’s market capitalisation, will be reinvested in a range of hedge funds worldwide.
CMA plans to issue shares denominated in dollars, euros and pounds sterling, priced at 10 usd, 10 eur, and 10 stg respectively, with trading expected to start on July24.
CMA, which has been operating since 1998, said it is going public in anticipation of growing demand for exposure to hedge funds by retail and institutional investors. Thegroup is a subsidiary of Swiss private bank EFG International.
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