Retail investors are lapping up the WAM Global Ltd IPO

Wilson Asset Management today announced its soon to be floated listed investment company WAM Global Ltd (ASX: WBG) has exceeded its $330 million capital raising and is now accepting limited oversubscriptions of up to $220 million until June 8.

WAM Global shares are expected to list on the ASX on June 22, 2018.

Funds raised under the IPO will be managed by Wilsons – the investment manager for WAM Capital Limited (ASX: WAM), WAM Research Limited (ASX: WAX) and WAM Microcap Limited (ASX: WMI) – which manages investments of more than $3 billion on behalf of 55,000 retail investors.

The good news about WAM Global has failed to translate into share price hikes for WAM Capital and WAM Research today, with WAM Capital down 0.4% to $2.37 at the time of writing and WAM Research also falling 0.3% to $1.48.

WAM Global will have an international focus, with an objective to deliver a “stream of fully-franked dividends”, while exposing shareholders to global equities by investing in “undervalued international growth companies”.

Wilsons has an enviable track record and this IPO is hotly anticipated.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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