BB HealthCare Trust Plc to IPO

 

The offer period for the BB Healthcare Trust Plc IPO is now closed

 

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BB HealthCare Trust Plc

*BB Healthcare Trust trades under the ticker LSE:BBH, keep up to date with the latest BB Healthcare Trust share price here


SyndicateRoom was appointed as official intermediary on the £200m IPO of BB Healthcare Trust Plc on the Premium Segment of the London Stock Exchange.

BB Healthcare was launched by Bellvue Asset Management AG and offers a high conviction, long-only investment trust invested in listed or quoted global healthcare equities.

The target annual dividend in the first financial period is 3.5 pence per ordinary share (to be paid mostly out of capital) and in subsequent financial years will be set at 3.5 per cent of net asset value at the end of the preceding financial year (to be paid mostly out of capital).

BB Healthcare is intending to invest into a maximum of 35 holdings

 

Highlights:

• Leverage experience and track record of Bellevue in this sector

• Opportunity for long term structural growth

• Dividend of 3.5 pence per ordinary share in initial financial period

• BB Healthcare will be managed by Bellevue (which manages BB Biotech AG (ticker: BION SW), Europe’s leading biotech investment trust)

• High conviction portfolio

• Unconstrained portfolio

• Fees: 0.95% based on market capitalisation; no performance fee

• Board to receive annual fee in shares

• Robust discount control

Investment objective

The investment objective of BB Healthcare is to provide shareholders with capital growth and income over the long term, through investment in listed or quoted global healthcare companies. BB Healthcare’s specific return objectives are:

(i) to beat the total return of the MSCI World Healthcare Index (in sterling) on a rolling 3 year period (the index total return including dividends reinvested on a net basis); and (ii) to seek to generate a double-digit total shareholder return per annum over a rolling 3 year period. Portfolio Manager: Bellevue Asset Management AG

BB Healthcare will be managed by Bellevue, which as at 30 June 2016 had approximately US$4 billion under management in the healthcare industry, in funds covering all areas of healthcare and geographies. The investment team will be comprised of Dr Daniel Koller and Paul Major; they will also have access to members of the wider Bellevue team.

Expected timetable

Publication of the Prospectus: Early November 2016 Publication of the results of the Issue: Late November 2016 Admission of and dealings in ordinary shares: Early December 2016

This information is issued by, and is the sole responsibility of SyndicateRoom and Any application to participate in the Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto.

 

 

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