Sustainable Farmland (AGRI) - IPO

The Sustainable Farmland Trust plc (AGRI), a new closed-ended investment company, has released a prospectus in relation to an initial public offering (“IPO”) of ordinary shares.

AGRI will aim to provide its shareholders with an attractive level of income together with the potential for capital growth by investing in a diversified portfolio of farmland and related agricultural assets.

The Company is targeting a raise of £200 million via a placing, an offer for subscription and an intermediaries offer. Interactive Investor Services Limited has been appointed as an intermediary in connection with the intermediaries offer.

A link to the prospectus is here prospectus. I could find a link to ii ii-offer which allows retail investors to take part.

Farmland is largely uncorrelated with other assets, however, in the past such vehicles did not do too well, see for example here citywire. There are some references to previous attempts to get something like this up and running. There are also some comment as to why there were problems in the past.

Looks like Primary Bid will also take ipo day orders for it.

And somewhat annoyingly, FT is still not a listed broker with them. There has been no recent update here joining-primary-bid on FT’s plans.

To be fair, if shares become available shortly after an ipo one can often snap up a little bargain.