Business
New investment company
New investment company.
About this update from Ashmore Group Plc
[{"type":"text","content":"\n Ashmore Group PLC\n29 October 2007\n\n29 October 2007\n\n PRESS RELEASE\n \n ASHMORE ANNOUNCES ITS INTENTION TO FLOAT \n A NEW INVESTMENT COMPANY ON THE LONDON STOCK EXCHANGE\n\n\nThis announcement is an advertisement and not a prospectus and investors should\nnot subscribe for or purchase any shares referred to in this announcement except\non the basis of information in the prospectus to be published by the Company in\ndue course in connection with the admission of the ordinary shares in the\ncapital of the Company to the main market of the London Stock Exchange plc (the\n'Prospectus'). Copies of the Prospectus will, following publication, be\navailable from the Company's registered office.\n\nAshmore Group plc ('Ashmore'), a leading emerging market investment manager,\ntoday announces its intention to launch a newly incorporated publicly listed\nclosed-ended investment company, Ashmore Global Opportunities Limited (the \n'Company'), whose shares will be listed on the Main Market of the London Stock\nExchange ('LSE'). The Company intends to raise €500 million through the offer\n(the 'Offer'). The Company will invest across Ashmore's investment themes with a\nprincipal focus on Special Situations.\n\n\nOffer Highlights\n\n\nDirect access to a leading specialist in emerging markets\n\n• Ashmore is a leading specialist value-oriented emerging markets asset\nmanager with US$33.1 billion of assets under management(1)\n\n• The Company will have access to the full range of Ashmore's current\nand future investment themes\n\nRapid deployment of proceeds\n\n• The Offer proceeds(2) are to be invested promptly following closing of\nthe Offer in Ashmore-managed funds across its investment themes\n\nDiversified exposure to emerging market investments with a principal focus on\nSpecial Situations\n\n• Shareholders will be offered exposure to investments in emerging\nmarkets across Ashmore's investment themes, currently Special Situations, Dollar\nDebt, Local Currency, Equity and Corporate High Yield\n\n• To deliver its principal focus on Special Situations, the Company will\nhave guaranteed capacity of up to 25% in all future Ashmore Special Situations\nfocussed funds including the ability to make a commitment upon closing of the\nOffer of up to 25% or US$400 million in GSSF4, Ashmore's most recent Special\nSituations fund, tog...