Shaw and Partners is pleased to be appointed as Joint Lead Manager to the proposed capital raising by PM Capital Global Opportunities Fund (ASX.PGF).

The company is proposing to raise approximately A$100 million by way of a single tranche Placement comprising the issue of approximately 45.7 million new fully paid ordinary shares issued at $2.19.  The offer price of $2.19 represents a 6.4% discount to PGF’s last traded price of $2.34 on Monday, 29 July 2024.

PGF currently trades at a 6.8% premium based on last traded price of $2.34, and has traded at an average 1.7% premium to pre-tax NTA over the past 12 months. As at 30 June 2024, PGF had returned 24.5% over 1 year, 17.3% pa over 3 years, and 18.3% pa over 5 years, outperforming the MSCI World Net Total Return Index (AUD) over all time frames

New Shares issued under the Offer will be entitled to receive the FY24 full year dividend which will be a minimum of 5.0 cents per share fully franked, representing a gross-up fully franked dividend yield of 6.5% per share.

Founded in 1998 by its Chief Investment Officer Paul Moore, PM Capital Limited is the Manager of PGF and is a globally-focused fund manager that manages money on behalf of private clients, the clients of financial advisers and institutions. Its goal is to build long-term wealth by investing in global markets and has won numerous awards for its investment performance.

The offer is available to Australian Sophisticated and Professional Investors only. For more information, please contact your Shaw and Partners Adviser.