HarbourVest Global Private Equity (HVPE) has announced that it intends to introduce an additional US dollar quote for the Company’s shares traded on the Main Market of the London Stock Exchange. The new US dollar quote will operate alongside HVPE’s existing sterling quotation.
US dollar quote to go live on Monday 10 December 2018
HVPE says that it expects the US dollar quote to take effect from Monday 10 December 2018, allowing shares to be traded in either currency from this date. The company says that there are no changes to the legal form or nature of the shares. The company highlights that:
- The existing ISIN (GG00BR30MJ80) will apply for the sterling quote and the US dollar quote;
- The existing SEDOL (BR30MJ8) and TIDM (HVPE LN) will continue to apply for the sterling quote on the London Stock Exchange; and
- A new SEDOL (BGT0LX2) and TIDM (HVPD LN) will be introduced for the US dollar quote.
US dollar quote aimed at improving the visibility of the discount
Sir Michael Bunbury, the company’s chairman sys that the introduction of a US dollar share price quote alongside the existing sterling quote, “will enable all investors to buy and sell shares in either currency according to their preference. We hope that this will help to improve the visibility of the discount at which the shares trade relative to the prevailing NAV, which is reported in HVPE’s functional currency, the US dollar.”
About HarbourVest Global Private Equity
Harbourvest Global Private Equity seeks to achieve top-quartile performance over a multi-year investment cycle through a mixture of direct and fund investments in private equity. It describes itself as providing a complete private markets solution for public investors by investing in primary funds, secondary investments, and direct co-investments to provide shareholders with superior, long-term capital growth. The company’s shares have a premium main market listing. The sterling shares were admitted to trading on 12 May 2010. The US dollar shares are being admitted to trading on 10 December 2018.