Platinum Asset Management Limited
(ASX:PTM) says it intends to launch a new listed investment company that will focus on Asian equities.
Called Platinum Asia Investments Limited
(ASX:PAI) the initial public offering will seek to raise $150 million with PTM to take a 25% stake.
The new investment vehicle will seek to provide long term capital growth by identifying and investing in undervalued companies across the Asia region with the exception of Japan.
PTM plans to lodge a prospectus by the end of July.
Platinum Asset Management made a net profit of $100.91 million for the first half of the 2015 financial year.
