The initial public offering (IPO), which opens on November 20 and closes on December 7, aims to raise $378 million, said Magellan Flagship Fund director and Magellan Financial Group deputy chairman Hamish Douglass.
Its mandate is to invest in a portfolio of around 50 international and Australian companies with attractive business characteristics at a discount to their assessed intrinsic values, Douglass added.
"The IPO was increased from $100 million to a minimum subscription level of $330 million because of strong broker demand in Australia and New Zealand," said Douglass, former Deutsche Bank Australasia global banking co-head.
The broking syndicate includes the joint lead managers ABN Amro Morgans, Bell Potter, Deutsche Bank, Forsyth Barr, Southern Cross Equities and Taylor Collison.
"There is a compelling case for more Australasian investors to increase the geographic diversity of their investment assets," Magellan Asset Management chief investment officer Chris Mackay said.
Billionaire businessman James Packer is the fund's cornerstone investor. He said the fund was "very exciting".
Magellan Flagship Fund's non-executive directors include the Southcorp former chief executive John Ballard, company director Andy Hogendijk and company director Richard Warburton.
Minimum investment is $7500. Trading of shares is expected to start on December 19 on the ASX.
