Thomson Geer is pleased to have advised investment company H&G High Conviction Limited (ASX:HCF) on its recent IPO and listing on the Australian Securities Exchange.

H&G High Conviction is focused on investing in micro-cap ASX-listed companies.  The company is managed by the funds management division of Hancock & Gore Limited (ASX:HNG), one of Australia’s oldest publicly listed companies.

It is the only investment company to list on the ASX so far in 2022.

Thomson Geer assisted the company to navigate the practical application of the Design and Distribution Obligations (DDO) regime, aimed at ensuring financial products are targeted at appropriate investors.  Following the introduction of the regime in October 2021, the ASIC’s focus has this year shifted to compliance, requiring regulatory consultation on a different approach to the assessment of investor risks and distribution conditions.

The Thomson Geer team was led by Partner Eugene Fung who said: “We’re pleased to have worked with H&G High Conviction to launch on ASX and offer investors a new opportunity to invest in Australia’s exciting micro-cap sector.”

The A$22 million listing follows the acquisition of the company’s initial investment portfolio from investors including Perennial Investment Management Limited, unitholders of an unlisted investment trust known as the H&G High Conviction Fund, and other sophisticated investors for about A$17 million.

The Thomson Geer team also included Senior Associate Thomas Gardner and Lawyer Jake Breydon.

Morgans Corporate was the IPO lead manager and UHY Haines Norton the investigating accountant.

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