Daniel Godfrey's widely anticipated The People's Trust no longer intends to list on the London Stock Exchange and the Social Stock Exchange, as it has failed to reach its fundraising target of £125m.
The launch had been approved by the Independent Impact Panel and the trust was set to list its shares on the Social Stock Exchange and London Stock Exchange on 17 October. It was aiming to raise £125m for the offer period closing on 10 October at a share price of 100p. Its founder Godfrey, former chief executive of the Investment Association until his departure in October 2015, said: "The People's Trust offered a unique and attractive investment proposition and had attracted a great deal of interest and support. Not least from 2,500 Founders, who collectively contributed over £100,00...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
