Augmentum Fintech IPO - Now CLOSED

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The Augmentum Fintech IPO

27th May 2018

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM) OR TO ANY NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM)

Augmentum Fintech IPO - Offer Overview

  • Intermediary Offer: Augmentum Fintech PLC
  • Sector: Investment Company
  • Market: Main Market Listing
  • Raising: £100m
  • Pricing: 100 pence per share. Minimum application of £1000 per Retail Investor to apply in the intermediaries offer. (No maximum amount)

Expected Timetable

  • Offer Open

    26th February 2018

  • Books Close:

    Thursday 8th March 2018 at 3pm

  • Allocation announced:

    9th March 2018

  • Trading begins:

    13th March 2018


About Augmentum Fintech Plc

Established in December 2017, Augmentum Fintech PLC is a closed-ended investment firm. The company focuses its portfolio on high potential fintech (financial technology) businesses based in Europe. With the fintech industry constantly challenging the efficiency and effectiveness of current methods, innovative technologies can gain opportunities to redefine the banking, insurance and asset management sectors. Augmentum adopts an investment strategy which aims to invest in unquoted, high growth, scalable businesses at early or later stage of investment. The company intends to raise revenue through strategic exiting of investments over time.

Use of Proceeds:

The company aims to invest in an initial portfolio of early (but not seed) or later stage unquoted fintech businesses. As in line with their investment strategy, Augmentum will aim to only invest in businesses that show rapid growth and meet their investment criteria.

Highlights
  • Augmentums focused approach towards fast growing fintech businesses allows the company to specialise in resources to maximise their earning potential in relation to the financial services sector.
  • The specialisation of their investments provides investors with exposure to a focused portfolio.
  • Post admission, the company has agreed to acquire minority interests in five portfolio companies which had an aggregate valuation of £33.3m.
  • Currently, Augmentums portfolio includes a number of recognisable brands including Zopa, Interactive Investor, Seeders, and Bullion Vault.

Risks*
  • The company has no operating history.
  • The new portfolio manager is expecting to receive FCA authorisation, until this time, the company is reliant upon the performance of third party service providers.
  • There is no guarantee that the investments made will achieve the investment objective.
  • Loss of key staff can be detrimental to company performance.
  • The company aims to invest in early stage companies which are more prone to smaller capitalisation and may find it more difficult to grow in periods of low economic growth.
  • Some or all investments may be illiquid and require the consent of other interested parties.
  • Changes in regulation and tax laws may impact the profitability of the company or require the company to change its operating structure which may be of high costs.
  • The company is focused on UK and European companies. The relationship of which may be greatly impacted by Brexit.
  • The company is participating in industry specific investment which is of higher risk due to the lack of a diverse portfolio.
  • Any risks that threaten fintech businesses will in turn threaten the profitability of Augmentum.

*Please note that these risks represent the judgement of Cornhill Capital, there may be additional risks represented in the prospectus


Offer Documents

Important information

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This announcement has been published by Cornhill Capital Limited.

This announcement has been prepared and is the sole responsibility of Cornhill Capital Limited of 4th Floor, 18 St Swithins Lane, London, EC4N 8AD, which is an authorised person for the purposes of the Financial Services and Markets Act 2000.

This announcement is not an offer of securities for sale in the United States. The securities to which this announcement relates have not been registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not he offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States.