Fundsmith uses Scribestar to prepare IPO Prospectus
04 Oct 2018
Scribestar, the London-based company focused on improving the efficiency of capital markets transactions through its online collaboration platform for document drafting, verification and publishing, is pleased to announce that their platform was used by Fundsmith, the investment management company, for the preparation of the Smithson Investment Trust IPO Prospectus, which was published on 17th September 2018.
The online capital markets document drafting platform was used by Fundsmith and their legal advisers, Travers Smith, to control costs and minimise execution risk, by providing one document for editing and review, which is always up-to-date. It enables all the relevant parties instantly to access the transaction documents and track the status of activities; and with this real-time intelligence and an audit trail of the document history, they can manage stakeholder expectations and be assured that the completed transaction will comply with the various legal and financial regulations.
Simon Godwin, CFO at Fundsmith commented:
“Scribestar brought structure and efficiencies to this process with its demanding timelines. With only one version of the draft Prospectus document to work from, updates and reviews were completed faster, ensuring submission deadlines were met.”
Greg Lunn, Scribestar CEO, said
“We are delighted that Fundsmith were able to enjoy the full benefits of Scribestar, and we could help to relieve some of the pressures in the lead up to this significant event; we wish them well with their Smithson Investment Trust IPO.”