August 4, 2019 / 11:56 PM / a month ago

Australia's VGI seeks to raise $679 million for new Asian listed investment fund

(Reuters) - Australian wealth manager VGI Partners Ltd (VGI.AX) on Monday said it intends to raise up to A$1 billion ($679 million) for a new Asian-equities focused investment company through an initial public offering.

The offer price under the IPO on the Australian Securities Exchange will be A$2.50 per share for the investment company, to be called VG8.

Invitations to apply for ordinary shares in the new investment company will be made during the current calendar year, the company said in a statement.

($1 = 1.4723 Australian dollars)

(The story was refiled to correct the Reuters Instrument Code in the first paragraph)

Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Sonali Paul

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