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Financial Standard - Prospectus lodged for ethically screened LIC

Financial Standard - Prospectus lodged for ethically screened LIC

Morphic Ethical Equities Fund Limited, the first ethically screened global equity listed investment company in over a decade, is undertaking an initial public offering of ordinary shares after lodging its prospectus with ASIC.

The company, which provides investors a way to grow wealth without investing in businesses which harm the environment, is seeking to raise up to $220 million and can accept over-subscription for a further $55 million.

Morphic will employ a similar investment process and strategy that it currently uses in managing its managed fund, the Morphic Global Opportunities Fund (MGOF). It will exclude companies involved in environmental destruction, including coal and uranium mining, oil and gas, animal cruelty, tobacco and alcohol, armaments, gambling and rainforest or old growth logging.

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