Salter Brothers Emerging Companies (ASX:SB2) launches $20M IPO

• Salter Brothers Emerging Companies (SB2) is getting ready to list on the ASX, launching a $20 million initial public offering (IPO)
• The investment management firm is offering 20 million shares at $1 per share, with a minimum subscription amount of 2000 shares
• Once the IPO closes this month, Salter Brothers plans to list on the securities exchange under the ticker SB2
• The company should have an initial market cap of around $100 million and is expecting to be added to quotation on June 8
• SB2’s investment portfolio will consist of 20 to 35 investee companies and will leverage off the wider Slater Brother Group — which has $2 billion in assets

Salter Brothers Emerging Companies (SB2) is getting ready to list on the ASX, launching a $20 million initial public offering (IPO).

Under the IPO, the investment management firm is offering 20 million shares at $1 per share, with a minimum subscription amount of 2000 shares.

The offer opened on Wednesday, May 12, and is due to close next week on May 21, before shares are issued six days later on May 27.

Salter Brothers then plans to list on the securities exchange under the ticker sB2, with a planned listing date of June 8.

If all goes to plan with the $20 million IPO, the company should list with an initial market cap of around $100 million.

Commenting on the business, Salter Brother explained its investment portfolio will consist of 20 to 35 investee companies which are actively managed.

“A disciplined investment process with a focus on capital preservation, will see the Investment Manager focus on a portfolio of Emerging Companies which will be compositionally different to that of the ASX-Small Ordinaries Accumulation Index,” SB2 said in a statement.

The company also plans to leverage the people, resources, and relationships of the wider Slater Brother Group — which has $2 billion in assets.