Baillie Gifford's Schiehallion fund explores $500m 'C' share issue

Expected to attract significant demand

Baillie Gifford's Schiehallion fund will "attract significant demand" from investment trust buyers should its proposed 'C' share issue materialise, Numis analysts have predicted.

The board of Schiehallion said on Thursday (6 January) it was considering raising up to $500m via the proposed issue of a ‘C' share class aimed at both institutional and professional investors. A prospectus is set to be published by the end of March with shares likely to start trading before the end of April, should it proceed with the raise. It had previously noted in October it would consider increasing its capital base. Josie Bentley named co-manager of Baillie Gifford European fund With a low-key IPO in March 2019 that raised $477m (£361m), Baillie Gifford aimed the fund at a s...