Interactive Investor

Smithson Investment Trust plc IPO

This offer is now closed for applications through interactive investor

"Our thesis that many of the existing small and mid cap funds in the market are anachronistic by being overly home biased and that there was a gap for a quality small and mid cap global equity fund appears to have been borne out by a wide range of investors subscribing for the Smithson offer. In addition, our innovative step to absorb all the issue costs as the investment manager has helped to remove the concern that investors participating in the IPO would be subject to an initial loss from these costs. I look forward to working with our portfolio management team to deploy the funds raised into the compelling growth companies we have identified."

Terry Smith, Chief Executive Officer and Chief Investment Officer of Fundsmith LLP

17 October 2018

results of the issue

  • Smithson Investment Trust plc has announced that it has successfully raised a total of £822.5 million from the Initial Placing, Offer for Subscription and Intermediaries Offer
  • Applications have been made for the admission of 82,250,956 Ordinary Shares to the premium segment of the Official List and trading on the London Stock Exchange's Main Market for listed securities.
  • The Issue Price was set at £10.00 per Ordinary Share.
  • Allocations have been met in full, meaning customers will receive 100% of the amount they applied for.
  • Share allocations are being applied to accounts on Wednesday 17 October 2018 and confirmation will be sent once shares are showing on accounts.

offer period

  • The Offer Period for the Smithson Investment Trust plc closed at 11am on Friday 12 October 2018.

trading starts

  • Admission is expected to commence at 8am on Friday 19 October 2018. There is no conditional dealing period.
  • When admitted to trading, the new shares will be registered with SEDOL (Stock Exchange Daily Official List) number BGJWTR8 and trade under the symbol "SSON".
  • If you buy or sell Smithson Investment Trust plc shares after admission the relevant share dealing rate will apply.

key information

Issue price per share:£10.00
Minimum investment:£1,000 (multiples of £100 thereafter)
Stock ticker:SSON
SEDOL:BGJWTR8

expected timetable

Offer open:17 September 2018
Offer close:12 October 2018 (11am)
Result announced:17 October 2018
Unconditional dealing starts:19 October 2018 (8am)

offer documents

Interactive Investor Services Limited uses the Smithson Investment Trust plc Prospectus in accordance with the Company's consent and the conditions set out in the Smithson Investment Trust plc Prospectus.
This website is issued by, and is the sole responsibility of, Interactive Investor Services Limited. This website is an advertisement and not a Prospectus. Any application to participate in the Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto.

Investing in IPOs carries a high degree of risk. If you are unsure of the suitability of an investment please seek Financial Advice. You are not guaranteed to make a profit, the value of your investments can go down as well as up. You may not get back all the money you invest. Any notification of an IPO on our website is not an endorsement of the issue, nor is it solicitation for interest in the issue. Investment in the Company should not be regarded as short-term in nature. You should consider carefully all of the information set out in the Prospectus, including all the risks attached to investing in the Company before you apply.

"Smithson Investment Trust plc" and the Smithson Investment Trust plc logo are registered trademarks of Smithson Investment Trust plc. Reproduced by kind permission of Smithson Investment Trust plc. All rights reserved.
This website is issued by, and is the sole responsibility of, Interactive Investor Services Limited.
This announcement has been prepared and is the sole responsibility of Interactive Investor Services Limited of Exchange Court, Duncombe Street, Leeds, LS1 4AX, which is an authorised person for the purposes of the Financial Services and Markets Act 2000.