LONDON (Alliance News) - Smithson Investment Trust PLC was admitted to London's Main Market Friday, marking its first day of trading.
The newly established investment trust raised GBP822.5 million, exceeding its original target of GBP250 million, and will list its 82.3 million shares on the premium segment of the Main Market.
Shares were trading at 1,018.50 pence in midday trading, up 1.8% from its IPO price of 1,000 pence.
Smithson Investment, founded by fund manager Terry Smith, will focus on global small and mid-cap companies.
Smith, and other founding partners of Fundsmith LLP, will hold a 3.7% holding in Smithson Investment.
Fundsmith LLP is the firm's investment manager.
Smithson Invest (SSON)