KEY POINTS:
Marlin Global's $70 million initial public offering has been oversubscribed by $33 million.
Marlin, a listed investment company managed by Fisher Funds, has elected not to scale investors.
The fund was established to invest in smaller growth companies outside New Zealand and Australia.
Managing director of Fisher Funds, Carmel Fisher, said Marlin would focus on just 30 to 40 international growth stories.
She said the oversubscription showed clear support "for our long term investment approach, our focus on picking individual stocks, and the appealing nature of growth opportunities that lie outside our local markets".
Investors in the IPO will receive one Marlin warrant for every two Marlin shares, having paid $1 per share.
Fisher Funds also manages Kingfish, a fund for New Zealand shares, and Barramundi , for Australian shares, as well as non-listed managed funds.
It currently manages around $680m in New Zealand funds and $430m in Australian funds.
Marlin shares and warrants are expected to be listed on the NZSX on November 1.
- NZPA
