Cancer fund plans to raise 250 mln stg with LSE listing
LONDON, Oct 1 (Reuters) - The Battle Against Cancer Investment Trust is aiming to raise at least 250 million pounds ($404 million) by floating on the London Stock Exchange .
The fund, which is known as BACIT and markets itself by waiving fees to investors, said in a regulatory filing that it plans to publish a prospectus of its initial public offering on Monday.
BACIT founder Tom Henderson, formerly of Cazenove, said: "For many years I have wanted to combine my background in fund management with supporting the incredible work of the Institute of Cancer Research."
The fund is backed by City financiers such as private equity veteran Jon Moulton, the founder of Alchemy Partners, who sits on the BACIT board.
BACIT, which is being advised by J.P. Morgan , said that it is prepared to list 500 million shares, depending on the amount of interest. It expects the price to be about 99 pence per share and will be book-building - assessing demand for the shares - until October 22. ($1 = 0.6193 British pounds)
(Reporting by Luke Jeffs; Editing by David Goodman)
Keywords: BACIT FLOAT/LSE