Successful launch of BB Healthcare Trust plc on the London Stock Exchange - initial issue volume GBP 150 million
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The launch of the investment company BB Healthcare Trust plc on the London Stock Exchange, first announced at the end of October, has now been successfully completed. GBP 150 million was raised in an initial offering by means of a share issuance program. The shares will be traded on the premium segment of the London Stock Exchange beginning December 2, 2016 (ISIN: GB00BZCNLL95, Bloomberg ticker: BBH LN).
BB Healthcare Trust's designated portfolio manager is Bellevue Asset Management AG, the same company that has successfully managed BB Biotech AG for over 20 years. This IPO cements Bellevue's position as one of the premier investors in the healthcare space. The investment specialist's assets under management in the healthcare sector alone amount to more than CHF 4 billion, spread across various investment instruments. Daniel Koller, the Head of Portfolio Management of BB Biotech AG, and Paul Major are responsible for managing the new investment company's portfolio.
Market presence in the UK strengthened
The successful listing of BB Healthcare Trust plc is only the third such transaction on the London Stock Exchange year to date. "After establishing a strong foothold for BB Biotech AG in Great Britain, we are now intensifying our presence in this key market with the listing of BB Healthcare Trust plc. BB Healthcare Trust plc's investment strategy and positioning attracted considerable interest from all client segments - institutionals, intermediaries and retail investors, and not only in Great Britain but also abroad. We are very pleased with this share placement," remarks André Rüegg, CEO of Bellevue Asset Management.
Professor Justin Stebbing, Chairman of the Board of Directors of BB Healthcare Trust plc, adds: "Bellevue has earned the respect of the industry for the performance it has generated with BB Biotech. This new investment trust will give investors access to these same skills, but across the wider global healthcare market."
High-conviction investment portfolio, no benchmark constraints
The Management Team headed by Daniel Koller and Paul Major can invest in all segments of the healthcare industry across all geographies and every market-cap range. "With this product, our extensive experience and profound knowledge can be deployed beyond the boundaries of the biotech sector," says Daniel Koller. BB Healthcare Trust will have a high-conviction portfolio consisting of no more than 35 positions. Stock selection will not be restricted by benchmark definitions.