February 20, 2018 / 7:10 AM / 3 months ago

BRIEF-Augmentum FinTech eyes London listing

Feb 20 (Reuters) - Augmentum Fintech Plc IPO-AUGM.L:

* ‍AUGMENTUM FINTECH PLC, A NEWLY ESTABLISHED CLOSED-ENDED INVESTMENT COMPANY, TODAY ANNOUNCES ITS INTENTION TO LAUNCH AN INITIAL PUBLIC OFFERING.​

* ‍COMPANY IS SEEKING TO ISSUE A TARGET OF 100 MILLION ORDINARY SHARES IN CAPITAL OF COMPANY AT AN ISSUE PRICE OF £1.00, WITH A MAXIMUM ISSUE SIZE OF 125 MILLION SHARES​

* ‍TARGET LAUNCH SIZE OF £100 MILLION (MAXIMUM LAUNCH SIZE OF £125 MILLION) WITH £2.7 MILLION TO BE INVESTED BY MANAGEMENT TEAM AND £10.0 MILLION BY RIT CAPITAL PARTNERS PLC, INVESTMENT TRUST CHAIRED BY JACOB ROTHSCHILD​

* ‍CONDITIONAL ON ADMISSION, COMPANY WILL ACQUIRE AN INITIAL PORTFOLIO OF FIVE FINTECH INVESTMENTS WITH AN AGGREGATE VALUATION OF APPROXIMATELY £33.3 MILLION AS AT 31 DECEMBER 2017​ Source text for Eikon: Further company coverage: (Reporting By Sinead Cruise)

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