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Tellworth British Recovery & Growth to seek IPO targeting raise of up to £100m

Tellworth British Recovery & Growth Trust plc (TBRGT), a newly established investment trust, has this morning announced its intention to launch an IPO. It is aiming to raise £100m through an initial placing and an initial intermediaries offer of ordinary shares in the capital of the company, with the flexibility to raise up to £500m. TBRGT also noted that a twelve-month placing programme will be launched and subsequent intermediaries offers may also be carried out over the 12-month life of the prospectus.

‘TBRGT will invest principally in UK listed companies with a significant presence in the UK’

TBRGT’s investment objective will be to generate long-term total returns over a rolling five year period by investing principally in UK listed companies with a significant presence in the UK.

‘Lead portfolio managers will be Paul Marriage, John Warren and Johnnie Smith’

The company’s lead portfolio managers will be Paul Marriage, John Warren and Johnnie Smith of Tellworth Investments, which is a specialist equity investment business, established by Paul Marriage and John Warren in 2017 and which carries out investment management and advisory services through BennBridge Ltd.

TBRGT’s portfolio will be relatively concentrated and will represent the Tellworth investment team’s highest conviction ideas across the market capitalisation spectrum within the UK equities sphere.

Numis Securities Limited is acting as placing agent in relation to the initial placing.

TBRGT: Tellworth British Recovery & Growth to seek IPO targeting raise of up to £100m

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