Antipodes Global Investment Company Limited exceeds $220m milestone

Sydney, 20 September 2016: Antipodes Global Investment Company Limited (ASX: APL) today exceeded $220 million in subscriptions, the maximum proceeds under the offer (before oversubscriptions).

The Listed Investment Company (LIC) has confirmed that it will accept up to a further $110 million in oversubscriptions. APL’s Broker Firm Offer is expected to close on 23 September 2016 and the General Offer closes on 30 September 2016. Trading on the ASX is expected to commence on 18 October 2016.

Based on the Antipodes Global Fund strategy, APL will provide investors with access to a long-short global securities investment portfolio with a currency overlay.

The LIC seeks to satisfy the shortage of listed global equity products that have the potential to deliver in all market conditions.

Antipodes Partners Chief Investment Officer Jacob Mitchell said: “It is really encouraging to see such strong demand for APL. It’s clear that SMSF investors are increasingly aware of local market limitations and are hence seeking global opportunities”.

National Australia Bank is the Lead Arranger for APL, this is the first LIC where the bank has been a broker to the Offer.

Nicholas Chaplin, NAB’s Head of Hybrid and Structured Capital Origination, stated:

“NAB is delighted to be involved as Arranger for this high quality Listed Investment Company.  The Antipodes LIC extends access for our clients to an asset class in which Australian non-institutional investors are materially underinvested compared to institutional portfolios.  NAB has recognised that Australian investors, particularly those managing their own superannuation, have gaps in their portfolio weightings when it comes to both fixed income and global equities.”

The Initial Public Offer (IPO) has an issue price of $1.10 per share. Investors will also receive one option for every one share issued under the Offer.

Antipodes Partners is supported by leading multi-affiliate investment management firm, Pinnacle Investment Management Limited (Pinnacle) which owns a minority stake in the business. Pinnacle currently has a stable of seven specialist investment managers that collectively manage over $20 billion.

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