MENU

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.

The Rocket Fuel of the AI Boom

One of the world’s richest people is sounding the alarm on what could be a trillion-dollar technology.

Everyone is talking about the artificial intelligence revolution.

Harvard Business Review calls it, “the most important general-purpose technology of our era.”

One Google Insider predicts AI, “will be as transformative as the discovery of electricity.” And it already is transforming industry after industry.

After all we have been hearing about AI for years…but it never really lived up to the hype…so what’s finally unlocked this huge tidal wave of innovation?

Click here to learn more!

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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.