Fund-Technology.com

First Euronext-listed Guernsey fund on the LSE

Posted: 01 July 2008

MW TOPS Limited, a Guernsey closed-ended investment company managed by Marshall Wace LLP, proposed a dual primary listing in London. Applications have been made for the admission of each class of the Company's existing shares to the Official List of the UK Listing Authority and to trading on the main market of the London Stock Exchange.

It is expected that dealings in the existing shares will commence on the main market of the LSE. Following admission, the Company will be dual primary listed in both London and Amsterdam (where the Company has been listed on Euronext Amsterdam since December 2006).

The Board of the Company believes a listing on the LSE is important for further enhancing the Company's liquidity, as well as improving profile and visibility, particularly amongst UK-based private wealth managers and investors.
In addition, a further benefit of a London listing is the potential for the Company's shares to qualify for FTSE Index inclusion, subject to the satisfaction of certain eligibility criteria.

A listing on the LSE will also provide UK-based investors with direct access to the investment expertise of Marshall Wace LLP, one of Europe's leading equity long/short managers.

Sir Andrew Large, Chairman of the Company, commented: "We are immensely pleased to list on the London Stock Exchange. By dual-listing MW TOPS Limited in both Amsterdam and London, we are looking to enhance the Company's profile.

"When MW TOPS Limited listed in Amsterdam, a primary listing of the Company in London was not a possibility. However, following the changes to the UK's listing rules the situation has changed and London, with its growing representation of listed hedge funds and fund of funds, has become a very attractive proposition for hedge funds."

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