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New IPO Investment Trust

Closed-end funds and OEICs
taken2often
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New IPO Investment Trust

#458107

Postby taken2often » November 15th, 2021, 10:54 am

An new investment trust IPO opening and closing within 3 weeks. H-L not showing it but II is. I have just invested 15k I chased H-L this morning
may not be for everyone but I think you need to look it up as I think it has great potential. But it has to be bought this week.

Atrato Onsite Energy issue price £1.00 When it opens on the market the ticker will be ROOF they want 150 million and I think that they will get this easily and that is why H-L are not making it too public

The back ground to this company is an organisation that buys large sheds from the owners and lease it back to them. Big sheds Big Roofs. This new IT will lease roofs and fit Solar. The electricity can be sold to the lease holder or to the Grid. So they can always beat the Grid, price wise, or that is my view.

They hope to provide a 5% yield in due course. I will be very surprised if this share does not kick off well.

Bob

taken2often
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Re: New IPO Investment Trust

#460928

Postby taken2often » November 25th, 2021, 6:05 pm

Well its all over now. As I thought way over subscribed. Not just reaching the target 150m. Over two or three times that. I only got 6498 shares plus 32 bonus shares. Will now have to buy the balance at around 109 pence plus. It also looks thathat they have in place a home for this 150m. Saying that where are they going to get the panels and who will install. May be another target.

Bob

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Re: New IPO Investment Trust

#461381

Postby Bobmcc01 » November 27th, 2021, 10:49 am

I placed an order for 1000 shares (the minimum order value) and got 433. Now I'll need to decide if its worthwhile to hold or to sell.

Bob. (difrnt Bob)

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Re: New IPO Investment Trust

#461473

Postby LooseCannon101 » November 27th, 2021, 9:41 pm

I would be careful about investing in a new investment trust with a single business concept.

Investment trusts usually invest in a range of companies and countries.

Another reason to be careful is you will be paying 100% of asset value, not a discount like most trusts.

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Re: New IPO Investment Trust

#461497

Postby Mike4 » November 27th, 2021, 11:18 pm

LooseCannon101 wrote:I would be careful about investing in a new investment trust with a single business concept.

Investment trusts usually invest in a range of companies and countries.

Another reason to be careful is you will be paying 100% of asset value, not a discount like most trusts.


Is that still true nowadays?

Of all the ITs that attract my interest, they seem as likely to trade at a premium as at a discount.

Just curious, I'm no expert but this is something I notice.

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Re: New IPO Investment Trust

#461504

Postby UncleEbenezer » November 28th, 2021, 1:04 am

Mike4 wrote:
LooseCannon101 wrote:I would be careful about investing in a new investment trust with a single business concept.

Investment trusts usually invest in a range of companies and countries.

Another reason to be careful is you will be paying 100% of asset value, not a discount like most trusts.


Is that still true nowadays?

Of all the ITs that attract my interest, they seem as likely to trade at a premium as at a discount.

Just curious, I'm no expert but this is something I notice.


It's true in some sectors, not in others. It's probably also true that more ITs overall trade at discounts than at premia.

In this case, the OP mentioned topping up at £1.09 after his application was scaled back. So (ignoring spread) that's a juicy instant 9% premium. We've seen instant premia with other launches in similar areas, such as Octopus Renewables two years ago.

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Re: New IPO Investment Trust

#461525

Postby Alaric » November 28th, 2021, 8:56 am

LooseCannon101 wrote:I would be careful about investing in a new investment trust with a single business concept.

Investment trusts usually invest in a range of companies and countries.


The Investment Trust structure is increasing being used to enable private investors to put money into otherwise inaccessible investments, renewable energy being one.

Corporate Bonds might be an alternative means of fund raising, but they have disadvantages as well. OEICs don't really work when there isn't an established secondary market in the assets they hold.

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Re: New IPO Investment Trust

#461532

Postby Dod101 » November 28th, 2021, 9:07 am

Alaric wrote:
LooseCannon101 wrote:I would be careful about investing in a new investment trust with a single business concept.

Investment trusts usually invest in a range of companies and countries.


The Investment Trust structure is increasing being used to enable private investors to put money into otherwise inaccessible investments, renewable energy being one.

Corporate Bonds might be an alternative means of fund raising, but they have disadvantages as well. OEICs don't really work when there isn't an established secondary market in the assets they hold.


The Investment Trust structure was founded on the principle of enabling private investors to put money into otherwise inaccessible investments about 150 yeas ago so nothing new in that. In fact of course any investment company structure will do that; an IT is just a special kind of Investment company with certain tax advantages.

Dod

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Re: New IPO Investment Trust

#461638

Postby taken2often » November 28th, 2021, 4:28 pm

The £1.09 included the spread. Interestingly I tried to buy the balance up to 15,000 but blocked by H-L who said no can do as no KID available. I read the Prospectus and it stated there was a KID available. Strange as H-L was supposed to be one of the main providers. Still they are starting to do very strange things, but that another story.

Anothe thing relating to points raised. If they have 150m cash then an IT could borrow say another 100m. I read that they have enough potential for a 300m spend. Keep in mind even if the properies are empty the energy can be sold on to others.

Bob

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Re: New IPO Investment Trust

#461720

Postby Alaric » November 28th, 2021, 10:56 pm

taken2often wrote:Interestingly I tried to buy the balance up to 15,000 but blocked by H-L who said no can do as no KID available.


Weren't HL one of the Brokers handling the IPO? It's a bit mad if the same organisation that promotes an IPO to private investors is unable to allow trading by private investors.on the secondary market immediately after launch.

Perhaps if parliament has any intent on removing EU deadwood from legislation, KIDs would be a good starting point.

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Re: New IPO Investment Trust

#461760

Postby DavidM13 » November 29th, 2021, 9:40 am

.
taken2often wrote:The £1.09 included the spread. Interestingly I tried to buy the balance up to 15,000 but blocked by H-L who said no can do as no KID available. I read the Prospectus and it stated there was a KID available. Strange as H-L was supposed to be one of the main providers. Still they are starting to do very strange things, but that another story.

Anothe thing relating to points raised. If they have 150m cash then an IT could borrow say another 100m. I read that they have enough potential for a 300m spend. Keep in mind even if the properies are empty the energy can be sold on to others.

Bob


There is a KID available. I am looking at it right now. Maybe HL just meant they didn't have it on their system, probably because of process delays or some such. https://www.atratoroof.com/investor-centre


Intended Retail Investor: An investment in the Company is intended for institutional investors and
professionally-advised or knowledgeable retail investors. It is suitable for investors who are capable of evaluating
the risks and merits of such an investment and who have sufficient resources to bear the economic risk of a
substantial or entire loss of their investment and who can accept that there may be limited liquidity in the shares

taken2often
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Re: New IPO Investment Trust

#461875

Postby taken2often » November 29th, 2021, 5:00 pm

Thats me

Bob

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Re: New IPO Investment Trust

#461877

Postby taken2often » November 29th, 2021, 5:07 pm

KID is a UK and EU con it creates a Fund monopoly. Closed Global Funds to EU Funds only. I think US laws cannot allow the KID wording as it is rubbish and you are not supposed o promote rubbish that may have legal implications. Compared to the home market why bother anyway.

Bob

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Re: New IPO Investment Trust

#461885

Postby scrumpyjack » November 29th, 2021, 5:19 pm

If I were being cynical, which I am, I might suggest that most Investment Trust IPOs are about setting up a vehicle that enables the managers and promoters to charge fees and get paid such fees on a long term recurring basis. Enabling the poor private investor to do this that or the other is incidental to that motivation :D

taken2often
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Re: New IPO Investment Trust

#462031

Postby taken2often » November 30th, 2021, 10:57 am

Update H-L now up and running just bought 8,470 at 108.2999 pence at my this months commission rate of £5.95. only time will tell but it sounds good

Bob


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