CMA Global Hedge has announced the launch of an international initial public offering as part of plans to list on the London Stock Exchange.
The company intends to place three classes of shares denominated in US dollars, euros and sterling, respectively.
Lehman Brothers International (Europe) and Merrill Lynch International are acting as Joint Global Coordinators, Joint Bookrunners and Joint Sponsors for the IPO. EFG Bank and EFG Eurobank Securities are acting as Co-Lead Distributors.
'I am delighted with the level of indicative interest expressed by potential investors in CMA Global Hedge,' says Sabby Mionis, CEO of CMA. 'The product diversifies traditional, long-term investment portfolio risk and the investment company structure brings attractive liquidity. We expect the product's benefits to be even more apparent during a time of rising market volatility.
'CMA Global Hedge is groundbreaking. Investors have the opportunity to access CMA's top-performing fund-of-hedge-funds strategy and select a share class currency of their choice. In addition, they have the assurance of the alignment of their interests with the Manager, given the USD20 million investment Angelos Metaxa and I are making.
'CMA has for eight years consistently delivered stable returns, establishing itself as a successful fund-of-hedge-funds manager. As such CMA Global hedge represents a unique opportunity for investors to participate in the success CMA has achieved for investors in its funds.'