CMA Global Hedge said yesterday it had launched its initial public offering on the London Stock Exchange, despite the current volatility. ...

CMA Global Hedge said yesterday it had launched its initial public offering on the London Stock Exchange, despite the current volatility. The investment company is a subsidiary of CM Advisors, which itself is a subsidiary of Swiss private banking group EFG International. The shares would be issued under the placing at $10, €10 and £10 pounds in the relevant class. The total number of shares will be announced on July 19. Unconditional dealing is set to begin on July 24. "(CMA Global Hedge) diversifies traditional, long-only investment portfolio risk and the investment company structure brings attractive liquidity," Sabby Mionis, chief executive of CMA, said in a statement. "We expect the product's benefits to be even more apparent during a time of rising market volatility." Last month CM Advisors said it planned a $500 million share placement for CMA Global Hedge.