BACIT raises £207m in London float

City A.M. Reporter
Investment company Battle Against Cancer Investment Trust (BACIT) raised £207m in an initial public share offer, which saw it shares jump in initial trading today.

The shares were priced at 100p each in the offering, and jumped to as much as 104p in their stock market debut today.

BACIT announced its intention to float on 1 October, offering 250m shares.

Founded by Tom Henderson, BACIT intends to put money in range of investments, include private equity and mutual funds.

The fund will also invest up to one per cent of its net asset value each year in cancer development drug development and medical projects.