Space tech fund Seraphim plans London listing

LONDON - Seraphim Space Investment Trust plans to list in London, it said on Friday, in what it said was the world's first listing of a space tech fund.

The closed-ended fund will invest in an international portfolio of early and growth-stage space tech businesses, targeting an annualised net asset value of at least 20% over the long term, it said in a statement.

Seraphim will issue ordinary shares at 100 pence per share.

JPMorgan Cazenove and Deutsche Bank are joint bookrunners, the company said.