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WAM Microcap Ltd. ( (AU:WMI) ) has issued an announcement.
WAM Income Maximiser Limited, a new listed investment company under Wilson Asset Management, has launched its initial public offering (IPO) earlier than planned, surpassing its minimum subscription on the first day. The company aims to provide investors with monthly franked dividends and capital growth by investing in high-quality equities and corporate debt, marking it as the first Australian LIC to offer such benefits. The IPO has allocated $180 million of the $510 million raising to existing shareholders of Wilson Asset Management’s other listed investment companies, reflecting strong investor demand and confidence in the company’s strategy.
More about WAM Microcap Ltd.
YTD Price Performance: 4.79%
Average Trading Volume: 166,723
Technical Sentiment Consensus Rating: Sell
See more insights into WMI stock on TipRanks’ Stock Analysis page.