VGI posts 100% gains at open!

Wow, wow, and wow is all we can say after keeping tabs on early trade for VGI shares as they began moving between portfolios around 12pm today. Prices are currently hovering under $10, up from the $5.50 ask, but have so far peaked to just over $11 per share. VGI looked to raise 75M from the listing, but the gains will be much greater for all involved.

This was effectively a closed IPO so we were expecting good things from it, but we didn’t predict 100% gains on day one, that’s for sure. The prospectus clarifies the company’s intent; “The primary reason for pursuing the Offer and listing on the ASX is to recognise and reward investors who have supported VGI Partners over the last 11 years…. This is why we are giving exclusive access to this Offer to VG1 Shareholders and investors in VGI Partners' unlisted funds, in each case, who participate in the concurrent capital raising being undertaken by VG1.”

Congrats to those who got an allocation.